One in five PAYE coding notices could be wrong
According to data published by the Society of Professional Accountants, as many as 1 in 5 PAYE tax code notices issued by HMRC since the start of the year could be wrong.
GDP growth is good news for umbrella companies
Contractors, recruiters and umbrella companies across the country would have been pleased by the official growth rate figures, released yesterday. According to the Office of National Statistics (ONS), the UK Gross Domestic Product (GDP) grew by 0.2% during the first quarter of 2010.
REC gets ready for the Agency Workers Directive
The REC's 'On The Road' tour has been set-up as part of an on-going plan by the REC to better educate it's members about the issues facing recruitment in this country, and how they can prepare themselves for the challenges that lie ahead.
Has unemployment really peaked?
The FSB recently conducted a survey of more than 1,400 of its members and found that 63% of small businesses, including recruitment agencies and umbrella companies, do not plan to increase their workforce over the coming 3 months.
Contractors and recruiters affected by travel disruption
The REC has had to postpone an upcoming workshop about improved recruitment practices in the public sector due to the flight disruption caused by the Icelandic volcano, Eyjafjallajökull.
Public sector cuts could impact umbrella companies
The CIPD has predicted that half a million jobs could be cut in the public sector over the next 5 years. This could be potentially damaging to the umbrella company industry, since many workers reside in this sector.
IT contractor pay rates increase in the north
According to new research by reThink Recruitment, pay rates for IT contractors in the north of the country are increasing more than three times quicker than the rates for equivalent contractors in the south.
New PAYE fines introduced by HMRC
Limited company contractors, recruitment agencies and umbrella companies could be in line for a series of new PAYE penalties, which have been introduced by HMRC from the start of this tax year.
Late payment trends could affect umbrella companies
According to recent research by BACS, the payment of invoices to UK SMEs, including limited company contractors and umbrella companies, is being delayed by an average of more than 40 days longer than the original invoice date.
Lib Dems pledge to target tax avoidance
The Liberal Democrats released their election manifesto yesterday and pledged among other things to crackdown on tax avoidance. They also want to scrap income tax below a threshold of £10,000, costing the UK exchequer around £16.7bn a year.
Further doubt over Tory National Insurance claims
According to the Conservatives, the proposed 1% increase in National Insurance Contributions will result in the loss of nearly 60,000 jobs from the UK economy. This figure was cited in their election manifesto, published on Tuesday.
Will Labour’s election manifesto affect umbrella companies?
The Labour party released its election manifesto yesterday and it did not contain many new policies relating to tax and businesses They did promise to keep business taxation competitive and encourage investment by increasing capital allowances.
