The latest news affecting umbrella companies in the UK. Featuring HMRC, the Agency Workers Directive, the 2003 Agency Regulations, and IR35.
As implementation gets closer, a recent survey has discovered that 80% of freelancers, including those working through umbrella companies, do not know what the AWR is or whether it will affect them.
Contractors might be interested to learn that HMRC is going to impose penalties of up to 200% on individuals found guilty of tax and capital gains evasion.
Despite various blunders by HMRC last year that affected umbrella company contractors, the department still spent nearly £800,000 more on bonus payments to staff than it paid out the previous year.
Last December, two British citizens were arrested on suspicion of hiding money in Swiss bank accounts to evade paying UK taxes.
The government has confirmed that it will reform the tribunal system in the UK, a decision that has been welcomed by the REC.
Only 25% of temporary workers in London saw a decrease in the number of freelancers and umbrella company contractors in the companies they worked with last year.
Confidence amongst IT contractors working in financial services has increased dramatically over the last year as banks carry on ploughing money into IT investment, new research shows.
More than 75% of the top interim managers in the NHS believe the government’s efficiency savings will impact negatively on the delivery of frontline services, according to Interim Partners.
The National Audit Office is to investigate the way tax inspectors from HMRC reach settlements with multinational companies after Vodafone’s £1.2 billion settlement caused uproar.
Umbrella company IT contractors have entered 2011 with increased confidence, according to the most recent IT Employee Confidence Index.
The CBI has warned that financial services companies in the UK could cut around 15,000 jobs over the next three months as the focus sharpens on lowering costs.
Union officials have warned that cuts to HMRC’s budget will lead to an increase in tax evasion and widen the gap between the revenue recovered and the amount actually due.
The freezing December weather caused 38% of small businesses to close and a further 41% to operate without their full complement of staff. The cost to the small business sector was in the region of £2.1bn.
The number of women taking on interim assignments, some through umbrella companies, has risen to an all time high, according to the latest market audit from the IMA.
The Institute of Employment Rights is concerned about the government’s proposed “employer’s charter”, currently under consideration.
December saw a decline of 21% in the number of job offers confirmed in the City, according to Powerchex, the pre-employment screening firm.
