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.
New PAYE rules will benefit umbrella companies
From 6th April 2010, new PAYE regulations mean that HMRC will accept the use of electronic P60s (also known as eP60s). This is great news for large employers, such as umbrella companies.
Temporary and permanent recruitment on the rise
The REC’s latest report on jobs shows that in March growth in temporary placements reached the strongest level for nearly 3 years. This proves the “vital flexibility” that temporary and contract workers, including umbrella company contractors, provide for UK businesses.
Umbrella companies welcome action on illegal workers
Gordon Brown is going to strengthen the links between the Points Based System and training UK workers in a bid to fill the UK’s skills gap.
HMRC cuts could affect service they provide to umbrella companies
HMRC is in line for a tough year as they face more cost cuts whilst continuing to find and chase tax evaders. This could have a knock on effect on those who work through umbrella companies.
