Two interim tax experts are heading the OTS
The Office of Tax Simplification was officially established by George Osborne and David Gauke, the Exchequer Secretary, on Tuesday.
The latest news affecting umbrella companies in the UK. Featuring HMRC, the Agency Workers Directive, the 2003 Agency Regulations, and IR35.
The Office of Tax Simplification was officially established by George Osborne and David Gauke, the Exchequer Secretary, on Tuesday.
HMRC is set to increase its investigations into tax avoidance and contractors not operating via an umbrella company may wish to get advice from a specialist accountant to ensure that all their tax matters are in order.
Last month saw a surge in the number of IT contractors hired according to Powerchex, the pre-employment specialist. Between May and June, the amount of employment offers made to IT contractors soared by a massive 320%.
The latest employment statistics from the ONS showed a rise in the number of people who are working and this rise is in part attributable to an increase in the number of umbrella company contractors.
De Poel, the temporary procurement agency, says that industry ambassadors and the British press need to get their facts right in light of rumours that the coalition government intends to water down some of the Agency Workers Regulations.
APSCo has said that the government’s cap on non-EU workers is not likely to have any significant effect on the amount of IT workers coming to the UK from foreign countries.
The government’s public sector spending cuts will affect everybody including IT contractors and suppliers.
The Scottish private sector recovery slowed down last month according to June’s purchasing managers index from the Bank of Scotland. This development could affect umbrella company contractors operating in Scotland.
The REC has won a victory in its fight to persuade the government not to extend the Gangmaster Licensing Authority.
Umbrella company IT contractors may want to consider moving to the capital or the south-east of England in their bid to secure a contract.
1% fewer companies became insolvent in the 2nd quarter compared to the 1st quarter of 2010 according to the latest analysis from PricewaterhouseCoopers. 3,467 businesses became insolvent during the period, a drop of 28% from the same quarter last year.
The managing economist at the CEBR, Charles Davis, has cautioned umbrella company contractors that whilst the economy in the UK is recovering, the recovery is not yet robust.
The Low Income Tax Reform Group believes that HMRC’s decision to reduce the opening hours of its helpline will hamper it in its long term aim to move to online services.
A new report from Numara Software could interest umbrella company IT contractors. It suggests that IT budgets in the UK suffered more than in some other European countries.
The REC is calling for the current enforcement mechanism for the recruitment sector to be protected and enhanced.
The coalition launched its ‘Your Freedom’ website last Thursday; a move that has been welcomed by the FSB.