Draft regulations setting out conditions and procedures for claimants of the proposed Universal Credit (UC) will impose new reporting requirements that put the self-employed at a disadvantage, tax advisers are warning.
Gabelle’s Paula Tallon, a member of the ICAEW’s SME tax committee sounded the alarm this week after reviewing the draft regulations and 59 pages of accompanying notes.
“The purpose of the universal credit is to simplify the benefits system, but what is causing concern is how self-employed individuals are required to report their income. The reporting requirements are different to those currently being consulted on for small businesses. It makes no sense to introduce another system. These proposals are unworkable and will hit the self-employed seve...
About John Stokdyk
John Stokdyk is the global editor of AccountingWEB UK and AccountingWEB.com.