11 December 2024
HM Revenue and Customs (HMRC) has released a tool that will allow workers engaged with an umbrella company to spot signs of fraud and avoid tax avoidance schemes.
The tool requires the user to input some key data from a payslip where it will then generate an estimate form HMRC on what should have been paid and highlight any areas where any incorrect deductions have been made. It then will aim to support the user in correcting their tax position.
The tool, while designed for individuals, can also be used by employment businesses and umbrella companies to check their own systems and processes if needed. It is entirely online and currently in ‘public beta’; there is a form within the tool to highlight any issues or suggestions you may have.
The CIPP were given the opportunity to test this tool before it went live where a number of our suggestions and comments have been implemented.
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information.