Is a centralised tax system a viable option in the UK?
Employers may be relieved to pass over employee tax calculations to HMRC but experts are not convinced that a centralised tax system will work efficiently in the UK.
Should umbrella company contractors be saving or spending?
Last week, the Bank of England controversially hinted that we should be spending rather than saving.
Mixed predictions on the future of the economy
The National Institute of Economic and Social Research think tank predicts that the UK’s economy will increase by 1.3% this year. In 2011, GDP will grow by 1.7% followed by an increase of 2.2% in 2012.
Entrepreneurs leap by 117% in the last 5 years
There’s been a massive surge in the number of entrepreneurs who have set up limited companies in the last five years, according to Experian.
More people are now benefiting from flexible working
Umbrella company contractors will no doubt be interested to learn that more people in the UK are now working flexibly.
Temporary immigration cap leads to a social worker shortage
The government’s temporary immigration cap is harming the social work profession according to recent reports in the media. In July, the government imposed a limit of 24,100 skilled workers from non EU countries entering the UK and a permanent immigration cap will be in place next year.
Young umbrella company contractors need to consider pensions
Young umbrella company contractors need to be encouraged to save for their retirement, but in order to make the prospect appealing, the UK pensions industry need to undergo radical reform, according to George Ladds from the Fair Investment Company.
HMRC says it will continue to chase tax underpayment cases
The BBC was recently told by HMRC whistleblowers that the Revenue has been instructed not to chase a lot of underpayment cases that are over two years old and which could be open to a legal challenge; a claim that has been strongly denied by an HMRC spokesman.
Northern companies struggle to obtain finance
New research shows that small businesses, recruiters and umbrella companies in the north have less chance of obtaining business loans than their counterparts in the south.
Interim managers key to business critical change management
Umbrella company contractors will be pleased to hear that the first two quarters of this year saw a 9% increase in the use of interim managers, according to the latest Ipsos MORI survey findings, and 52% of all interim assignments were in the private sector.
Will HMRC clampdown affect umbrella companies?
A fivefold increase in prosecutions against tax evaders could see HMRC bringing 800 people a year to court. In the year to September 30 2009, the Revenue brought 157 prosecutions against individuals.
FSB calls for more competition in the banking sector
The FSB is asking the government to do more to encourage competition in the banking sector. There have been concerns that the current lack of competition could lead us back into recession.
