Tax guidance to be made more accessible to PAYE umbrella companies
Submitted by: theslotscasino
2013-10-11 00:01:32
This article looks at how the changes being made by HMRC will affect a PAYE umbrella company as tax guidance is made more accessible. Guides will be made more easily viewable and useable under the changes, taking place between now and the summer of 2014.
(OPENPRESS) London, United Kingdom,Tax guidance is to be made more easily accessible for umbrella contractors such as One Click Umbrella, due to plans announced by HMRC (Her Majesty's Revenue & Customs).
The plans, which will take place between now and the summer of 2014, will also affect the self-employed. Guides that are easier to search, view, browse or print will be made available as part of HMRC's changing face of tax guidance, as it moves from its current website to a GOV.UK domain.
One Click Umbrella are a PAYE umbrella company; a totally automated online solution which keeps the contractor in charge of their payroll and expense claims, and ensures they are paying the right amount of tax for things such as PAYE and National Insurance.
The UK-based umbrella company basically takes on freelancers or contractors as members of staff at One Click Umbrella, and is therefore able to look after their taxes and accounts, for a fixed monthly fee. The company even offers an online calculator, where users can work out how much money they could take home as an employee of One Click Umbrella.
As part of HMRC changes, more than 100,000 pages and tools will be transferred to the new domain, which aims to make easier contractors; understanding of how the regulations affect them.
Contractors and freelancers will be able to get involved in the process and progress of the changeover, by making sure that guidance and content is in a format that is useful to them, while HMRC has called on people from all walks of life and all levels of tax-knowledge to get involved and test products as they are developed and added to the site.
Speaking about the changes that are being put in place, the tax authority said: We are currently working on designs and early development on a range of tools and functionality for GOV.UK, such as building a system to display the HMRC manuals.
These real benefit of using a PAYE umbrella company such as One Click Umbrella for a contractor is that they get to enjoy all the benefits of being a limited company without any of the "responsibilities, headaches, cost and time of the accounting and financial matters".
These umbrella companies are very much used to keeping all of their work to the highest possible standards and ensuring they are working in compliance with all HMRC regulations. HMRC grants a dispensation to businesses that they do not have to report certain expenses, but the tax body recently announced that any umbrella companies who were judged to be abusing or not correctly policing their dispensation would have it revoked.
To find out more about how One Click Umbrella could help you, visit http://www.oneclickumbrella.com/ or call 0800 233 5522.
