HMRC will return billions to freelancers in tax climbdown

The Treasury faces having to refund billions of pounds to freelance workers after it announced that it was scaling back a crackdown on tax avoidance that was criticised in an official report.

Ministers will vastly reduce the scope of the loan charge, a penalty HM Revenue & Customs has levied on 50,000 self-employed IT contractors, management consultants, locum doctors and nurses.

Many workers said they were driven to bankruptcy or had to sell their home because of the bills they received, which sometimes reached six figures, and said they had been assured by accountants that the schemes they were using operated within tax rules.

A review published yesterday by Sir Amyas Morse, former head of the National Audit Office, found that the clampdown went too…

Source: The Times

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