Category: freelancers
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Freelancers warned of hefty tax bills as HMRC issues new guidance on managed service companies
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HM Revenue & Customs (HMRC) has issued new guidance warning freelancers, contractors and consultants about the risks associated with managed services companies (MSCs) – complex tax arrangements that can leave freelancers facing tax bills of up to tens of thousands of pounds. The MSC legislation, introduced in 2007, aims to…
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Online taxis, food delivery firms, freelancers face hefty 6pc tax in new plan
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Ride-hailing services, online freelance jobs and food delivery companies face a tougher 6% tax, as the Treasury revived a proposal to raise revenue from these sources. In its new proposals, the Treasury proposed a new significant economic presence (SEP) tax at a rate of six percent, four times the 1.5…