The latest news affecting umbrella companies in the UK. Featuring HMRC, the Agency Workers Directive, the 2003 Agency Regulations, and IR35.
CEO and Founder of Crunch Accounting, Darren Fell, has released a post via Crunch’s LinkedIn profile explaining why he is “utterly delighted” that Rishi Sunak has resigned as Chancellor of the Exchequer. In the statement, Darren also explains why he believes Rishi should “never be allowed to come back to …
Since we last reported, HMRC has updated its list of named tax avoidance schemes, promoters, enablers and suppliers. The newest additions are Novus Consultants Limited, Paybox Umbrella Limited, Saxonside Limited and T2 Outsourcing Limited. Keep reading and find out more about these unethical payroll providers and HMRC’s description explaining why …
The Freelancer & Contractor Services Association (FCSA) has recently updated its Codes of Compliance to ensure all members process holiday pay correctly and in the best interests of temporary workers. However, some stakeholders have responded negatively to the changes, suggesting the wording is a watered-down version of what should be …
The Freelancer & Contractor Services Association (FCSA) has recently updated its Codes of Compliance to clarify the confusion surrounding umbrella companies and holiday pay and to strengthen compliance by its members. However, the recent updates have been scrutinised by industry stakeholders. Contractor UK said the “FCSA rubbed out words proposed …
The FCSA has recently updated its Codes of Compliance in response to industry-wide frustration surrounding a few umbrella companies retaining their workers’ holiday pay. Such practice is providing a handful of umbrellas with significant boosts in profits, but the practice is unethical and has rightfully been heavily reported on. In …
Umbrella companies and holiday pay – what is going on in the industry? » Read the full story
In a recent article (July 2022) by Chris Bryce on the Freelancer & Contractor Services Association’s (FCSA) website, it’s been unveiled that the FCSA has updated its Codes of Compliance. With the primary objective of the FCSA to “champion compliance across the sector and protect the interests of members, workers …
The FCSA Updates Codes Of Compliance – July 2022 » Read the full story
As if choosing a compliant umbrella company isn’t difficult enough! There are over 500 umbrellas in the UK, and while most are compliant, some are tax avoidance schemes preying on vulnerable contractors and freelancers. In an article by Contractor UK, a ‘sham’ accreditation body has been identified. If you’re a …
An FCSA accredited umbrella company, Exchequer Solutions, has lost a First-Tier Tribunal against HMRC relating to an £11 million tax bill due to errors processing historical contractor expenses. In this article, we summarise the case between HMRC and Exchequer Solutions and share the FCSA’s official response to the First-Tier Tribunal …
Using an umbrella company is a popular payroll choice for tens of thousands of contractors and freelancers working on temporary assignments. However, not everyone is keen to use an umbrella. There have been reports of recruitment agencies forcing temporary workers to use specific umbrella companies if they want to keep …
Contractors should never feel forced to use an umbrella company » Read the full story
Compliant umbrella companies will not only explain how holiday pay works before you register with them, but they’ll also ensure they process it compliantly and as requested. Frustratingly, this hasn’t always been the case and a few umbrella companies have been accused of retaining holiday pay for themselves – leaving …
In a report (25th May 2022) by the Committee of Public Accounts entitled ‘Lessons from implementing IR35 reforms’, HMRC is accused of having “done little to understand the wider impact of the reforms on workers or labour markets”. Keep reading as we summarise the report and share IPSE’s views on …
There is often a lot of confusion surrounding umbrella company fees, so we wanted to clarify any misunderstandings. This article will explain how umbrella companies make money and what you should expect to retain after the deductions to your gross salary have been made. If you have any questions, please …
Umbrella company fees: what do you need to know? » Read the full story
In an online corporate report (‘Current list of named tax avoidance schemes, promoters, enablers and suppliers’), HMRC named and shamed three tax avoidance schemes. While three isn’t many, it’s a start. Keep reading for more information, including the warning signs of a tax avoidance scheme and what you should do …
HMRC name and shame three tax avoidance schemes » Read the full story
If you’re a contractor or freelancer, there are many rules and regulations to understand within your sector – especially when it comes to payroll. For example, with so many temporary workers finding themselves inside IR35 since recent changes to off-payroll working rules, hundreds of thousands of workers have been required …
10 organisations every contractor and freelancer should be following » Read the full story
We’ve noticed that many contractors and freelancers are Google searching for ‘umbrella company examples’, and as a result, our team has put a few examples together to help you out. Please keep reading for two umbrella company examples – one example being an experience with a compliant umbrella company and …
The umbrella company market is booming, and there are over 500 providers in the UK. With so many companies to choose from, how do you know which umbrella will provide you with the best value and most reliable payroll service? Please keep reading because this guide will explain everything you …
