'Touchy feely' interviews await contract developers who don’t like the language

Programming clients to run demos of what you dread, while extolling how your weekend matters.

Loan charge group flags up 14 of Stride’s ‘untruths’

MPs are told the Treasury has given them partial, misleading or simply ‘not true’ answers.

New loan charge minister Jesse Norman toys with Tory leadership bid

Jesse Norman MP ‘consulting’ on throwing his hat into the ring to succeed Theresa May.

GDPR: One year on, contractors mustn’t get complacent

Whether it stays or it goes, new data legislation is here now, and enforcement is next.

Hays sees IT contractors benefiting from permanent team shortages

Software engineering and security gaps are a shoo-in for freelancers, at banks especially.

New Treasury minister Jesse Norman deluged with loan charge delay requests

Jesse Norman MP inundated with calls to suspend, delay and review the ‘pernicious’ tax.

Time’s almost up to oppose private sector IR35 reform

Only one working day left to object to the biggest assault on off-payroll workers in two decades.

LCAG: No chancellor, there are no loan charge scheme promoters here

As misleading maestro Mel gets promoted, his old boss must answer for his own sinister conduct and allegations.

Contractors' IR35 advice 'should come with a mental health warning'

Not being part of a team is good for your status; and even better for your demons.

IT contractor skills in London: what’s hot as 2019 warms up

And where in the capital rates are almost at £1,000 a day.

Employer guide to contractors under IR35 reform from April 2020

Get to grips with your new obligations as a temporary workers’ fee-payer or client.

Stride blames contractors for HMRC loan charge inaction

‘It’s Revenue customers, not the Revenue, who’s behind tax not being collected 20 years ago.’

HMRC makes six loan charge arrests

‘Loan-busting’ scheme promoters get picked up. Questioned. And released.

Clock is ticking to have your say on private sector IR35 reform

Agree or disagree with IR35 changing in April? There’s only a week left to speak up.

Hammond faces four MPs’ questions on loan charge 2019

Chancellor asked if he’ll do the ‘extraordinary’ -- finally listen and act.

CEST improvements revealed in OTS report

Pop-ups, signposts and plainer English among a number of tweaks to the tool.

Debt recovery sites 'almost as embarrassing to use as porn hubs'

A history of cash collection portals can bring out the blushes nearly as much as X-rated visits.

How Payments Have Changed In Past Decades

Currency has been a part of humanity since time began. Throughout this time, it’s gone through quite a significant amount of changes. While currency itself may not have been around for the first few centuries of our history, the underlying philosophy has been; the exchange of one thing of value for another. In early history, this was bartering, which then evolved into coins and other valuable metals such as gold and silver. This subsequently involved into the paper currency that has been popular for centuries.

While paper currency has persisted in its popularity over that time – for a few obvious reasons – this has been changing over the past two or three decades. This has primarily been driven by a variety of advancements in technology, much of which has been coming at an increasingly faster pace. With this, the likes of credit soon began becoming more common. Furthermore, one notable evolution has been through banks, which allow someone to deposit money in one place and then let someone hundreds of miles away receive that money.

Thanks to the evolution of technology, however, this has begun to change rapidly, with more and more people starting to send money online. This has offered quite a significant amount of benefits for many of us, as we can make and receive payments without leaving the comfort of our homes. This first began in the 1950s with the introduction of credit cards. While this is still something that serves as the underlying basis of the majority of payments, the means and methods of these payments have changed drastically in the past few decades.

Faster and Easier

One of the first notable impacts that technology has had in the area has been the introduction of ATMs, which has drastically cut down on the amount of time many people have needed to spend at a bank. These also had the notable feature of allowing people to deposit or withdraw money on the go without having to set foot into a financial institution. This subsequently became an industry standard, with the majority of people becoming familiar with their use and functionality.

This changed in 1973 with the introduction of the Society for Worldwide Interbank Financial Telecommunication, better known as SWIFT. This paved the way for global payments that could be made on a near-instantaneous basis, allowing people to send and receive money from anywhere in the world. Since then, technology has continued to be refined and upgraded. Similar to how the impact of ATMs and how they became an industry standard, so too did SWIFT.

The technology has become so well-known and used that it still works to underpin the majority of payments that are made between financial institutions daily. For the following two decades, there were very few notable advancements in the area. This changed in the 1990s as the Internet started to become increasingly more popular. Noting the potential for the technology, many entrepreneurs began combining technology with the likes of SWIFT to introduce a variety of different payment methods.

One of the most notable of these evolutions came in 1998 with both PayPal and OzForex being introduced to the market. Since then, there has been a variety of new technologies and apps released that have continued to make more of an impact on the niche. This helped to birth what is now known as online payments and the likes of digital wallets, payment apps, and online money transfers. This has allowed many people to explore the world while still sending and receiving payments. This evolution has continued to be felt over the past two decades with companies continuing to refine and improve their online offerings; financial institutions have also been a guiding hand throughout this time.

The Future Is Now

Currency has continued to evolve at a somewhat regular pace over the past century or so. For much of this, a significant evolution has been made every two decades. With one of the most recent advancements coming in 1998, many people would expect that payments have been due a change for the past few years. These speculators would be correct, as Blockchain technology has begun making its presence felt across the financial industry.

Many have noted that this may be a natural evolution of the way people send and receive money. Despite still being in its early stages, it looks as though Blockchain is paving the way for how many people will be making payments in the years to come.

HMRC under fire for ‘inaccurate’ automatically issued letters

Jokes over a 1p tax bill have a serious side, including irate contractors and potentially lost business.

Contractors' Questions: How to freelance in the UAE as a non-UK resident?

A local sponsor, not an umbrella, is what an offshore account holder needs to find.

Contractor’s guide to contracting in Luxembourg

Europe’s 8th smallest nation punches well above its weight, making it a big contender for contractors.

Contractors, are you up for paying HMRC sooner if your PSC goes down in debt?

Placing HMRC higher up the payment pecking order in insolvency is premature and poorly timed.

Contractors' Questions: Will HSBC-type intermediary models beat the new IR35?

What the third-party does will be the key; unlocking much more is difficult if not impossible.

Hammond written to over loan charge group allegation

Chancellor told to consider if his ‘misleading’ comments need amending or clarifying.

IR35 Forum’s February 2019 meeting: at-a-glance

The key takeaways from the last HMRC-industry session before the IR35 reform plan hit.

Loan charge group insists HMRC knew contractor was suicidal

LCAG disputes IOPC finding ‘no evidence’ Revenue saw customer as a threat to themselves.

Growth in demand for IT contractors inched up in April

Temp billings ‘bounce back’ on the back of Brexit concerns, but only very faintly in IT.

HSBC’s shallow IR35 wheeze suggests murkier water ahead for contractors

What chance for you and your client next year if even a big bank is struggling with IR35 reform now?

We're aware of HSBC-like intermediary models, IR35 officials say

New IR35 Forum minutes show HMRC knows about trying to insert parties (and clauses) to nullify 2020’s reform.

HMRC to investigate itself over Loan Charge suicide

Fears of a whitewash as taxman gets told that he alone can decide his appropriateness.

Companies House fraud changes incoming to limited companies

New hoops for directors to jump through, thanks to the 175-year-old register digitalising.

Why You Need A Tax Attorney

Most people dream of a new job with a higher salary but want to avoid some of the headaches. While there are a number of great things about accepting a promotion or a job, there are some bad things that we may wish to avoid. Greater responsibility is a major problem, as everyone fears the inability to adapt to new situations. There is also the need to act as if they belong. Even in the highest halls of any business, peer pressure is something that needs to be dealt with. There is also the issue that a greater salary means greater income tax problems, especially if the person lands in a higher tax bracket. Everyone wants to avoid those. Fortunately, they can be nimbly avoided.

A new position often comes with a wide variety of different income streams, especially if you are being promoted to a managerial position. This is not limited to just the salary, but possibly stock in the company, as well as 401K contributions. Making more money brings with it new concerns for paying taxes for the right amount and on time. You might find that you need an attorney, such as Len Stauffenger, ESQ, to help straighten things out. Contact him for a free consultation. You and your attorney will want to make sure that you are fairly compensated for any expenses, while at the same time, you want to avoid a tax audit.

You might also decide that you need to hire an accountant. You need to draw a line between personal and business expenses somewhere; if not the IRS is going to help show you where the line is and possibly in the worst way possible. An accountant will help keep your expenses in line and should help you better define which are business-related; this not only ensures that you are taking the right deductions but that the deductions you take will not draw the unwanted attention of the IRS. Given how byzantine the tax code is and how careful one needs to walk that maze an accountant is well worth the money spent.

And there are plenty of problems to watch out for. Business expenses are a major issue as too many people are not really clear where the line is. Accuracy is another issue. Some people claim far less than they should, ensuring that they pay less in taxes than they should. This includes not only inputting the wrong gross income but forgetting to mention the sale of a house. In some cases, charitable deductions came under fire as a person claims a deduction to an organization not recognized by the IRS as a charity, while others ignore fines and levies. Again, an accountant is the best possible ally to have when it comes to dealing with the numbers, but having a lawyer on hand cannot hurt.

However, there are also some areas where having access to a lawyer can definitely help. The IRS falls under administrative law and, as such, it means that it is tried in its own courts. There are a number of times when the IRS has overstepped its mandate and has attempted to enforce liens against property in order to collect its due. While this is normally fine, it can sometimes be an issue. Also, sometimes a spouse is considered innocent of their spouse’s wrongdoing. In order to obtain that judgment, however, a court ruling is required.

All of this ignores the sheer number of court cases that are considered frivolous. Sometimes they are not as frivolous as one would think. That people tend to win against the IRS in these situations shows that defending yourself in court is well worth the effort.

While everyone welcomes the perks and power of their new role, they do not always like the additional issues that come with it. While the amount of increased responsibility may not be totally clear when taking it on, any additional tax problems are definitely not part of the equation. Nonetheless, with a little planning, it is possible to not only avoid tax issues but also come out ahead. Remember to plan and give yourself a buffer. You should come out smelling like a rose.

Alert issued over contractors paying HMRC earlier if insolvent

Only 20 days to go to oppose old tax debts falling due much sooner..

HMRC charts Costelloe’s defeat in Spotlight 32

Taxman updates the ‘little-read’ series with his MSC victory -- a ‘battering ram.’

What NOT to accept from HMRC in an IR35 investigation

Leaving you in limbo isn’t the only thing contractors should resist from a probing taxman.

Umbrella companies: what their detractors don’t want you to know

Myths about umbrellas are still being peddled, by their critics and impersonators.

IPSE defends its stance on Loan Charge 2019

Contractor group responds to claims it hasn’t supported those caught by the April tax.

What Brexit’s bound to mean for your contracting in EU countries

Six scenarios set to play out over 183 days; and half hold disadvantages for UK contractors.

HSBC tells contractors 'quit or go perm' before IR35 reforms bite

Bank puts contracting’s viability in doubt, as all direct PSC hires will cease from September.