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  • J G
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    A failure by HMRC to abide the agency rules reveals that the ruinous loan charge wasn’t even necessary

    Not for the first time, our MPs have had to write to Her Majesty’s Treasury about HMRC’s conduct and actions in relation to its ruinous loan charge.
    But for the first time — at least by my reckoning, the MPs have exposed to the Treasury a historic failure, on an industrial scale, by HM Revenue & Customs to abide by the Agency legislation, writes Steve Packham of the Loan Charge Action Group.

    Three hugely problematic findings for the taxman
    This historic failure by HMRC to follow legislation already on the statute book has largely come to light thanks to Sir Iain Duncan Smith MP, a former leader of the Conservatives.
    His question in the Commons on October 24th 2022 is where to start, to understand what we now know and what to me, HMT is as good as admitting. Namely that:
    • HMRC should actually have policed the contractor sector properly using existing legislation brought in by parliament; and specifically that;
    • HMRC neglected to enforce the agency rules; and
    • HMRC should have collected tax from the agencies used by contractors, because the agencies were the employers of the contractors — workers who are now facing ruin through HMRC demands for this same tax.

    Read the full article from ContractorUK:
    #contractors #HMRC #tax #taxman

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