- Specialist advice and support for those wishing to start up their own business when released, including the self-employed and those working under The Construction Industry Scheme. This includes access to their own dedicated tax specialist with who they will work for up to twelve months post-release and who will support them with their tax affairs and handle all of the complexities of tax law, financial regulations and HMRC rules.
- Specialist tax advice and support for those who are having difficulty with HMRC-related issues including: direct negotiation with HMRC and agreeing outstanding debt; negotiating penalty and payment plans; late filing; failure to notify; determinations of tax in the absence of submitted Self-Assessment returns. This is of particular relevance to offenders who were self-employed prior to entering prison and are either interested in returning to their established business or who are interested in establishing a different self-employment business. By ensuring that their existing HMRC-related issues are resolved prior to release, they can avoid the threat of prosecution and commence re-employment with a far greater chance of success.
- Specialist support to offenders with claiming tax refunds, including those who were PAYE upon entering prison and have overpaid tax plus self-employed/Construction Industry Scheme /ex-Armed Forces personnel who are entitled to numerous tax rebates on their travel, expenses, meals etc. The average first tax refund claim, covering the previous four tax years, is worth £2,500 on average but varies depending on personal circumstances and availability of pay, tax and expenses information. By offering this service to offenders we use it as an opportunity to educate them as to their entitlements with a view to ensuring that when they become self-employed upon release, they will be able to be more financially resilient.
A one-day workshop offering specific advice on the practicalities of becoming self-employed, including topics such as: record-keeping, cash-flow; profit margins; insurance; VAT etc. This course will equip participants with the knowledge and understanding of the opportunities and potential risks pertaining to becoming self-employed or operating as a sole trader and running a business.
Everyone who attends this course will benefit from up to twelve-months support from a RIFT personal tax specialist on release, who will also ensure that they are appropriately registered with HMRC and ensure that they don’t fall foul of HMRC regulations.