What does the budget hold for umbrella companies?
Small businesses, umbrella companies and limited company IT contractors will be in a state of ‘limbo’ until the emergency Budget is delivered on 22nd June.
The latest news affecting umbrella companies in the UK. Featuring HMRC, the Agency Workers Directive, the 2003 Agency Regulations, and IR35.
Small businesses, umbrella companies and limited company IT contractors will be in a state of ‘limbo’ until the emergency Budget is delivered on 22nd June.
The REC is understandably delighted that George Osborne has reversed part of the plan to increase NICs. They had opposed the move, as had all business bodies, as the potential cost would have prevented the jobs market recovering fully from the recession.
On Monday the Treasury released its plans to save £6.2 billion from the public sector budget. One of the planned measures is to cut £95 million from IT spending, which could affect those working through umbrella companies.
The Chartered Institute of Taxation has called on the new coalition to prioritise tax reform. They have written to George Osborne, the new chancellor, highlighted the need to simplify the current tax regime.
According to a recent manifesto published by the IT trade association Intellect, a fundamental overhaul of the UK tax incentive system could create as many as 250,000 jobs for IT contractors.
Recruiters and umbrella companies are drowning in employment red tape and bureaucracy after 13 years under a Labour government.
Contractors and freelancers with their own limited company, as well as interim workers who use the services of an umbrella company could soon discover exactly where they sit under the Agency Workers Directive.
Contractors who work in science and engineering could find themselves in greater demand according to a report published recently by the CBI.
The REC is urging the new coalition government not to make any drastic cuts from the public sector budget.
Andrew Lansley, the new Health Secretary, has announced that family doctors rather than locums will be responsible for out-of-hours care.
According to new figures published by IT service provider Syscap, the number of Time To Pay VAT requests rejected by HMRC has more than doubled in the first 3 months of 2010.
According to the REC’s latest JobsOutlook report, agency workers, umbrella company employees and limited company contractors will become a vital compenent in the economic recovery.
The number of short term assignments for limited company contractors, sole traders and umbrella company workers is set to drop according to a new report by the Confederation of British Industry (CBI).
There are now more than one million people in the UK working on a part-time basis because they are unable to find a full-time position. The number of temporary workers who can’t find permanent jobs has also increased to 40%.
After a 5 year fight, Novak Brajkovic has finally won his appeal against HMRC’s interpretation of his service contract. HMRC considered that Brajkovic was a full time employee rather than a contractor.
The agency workers directive could have an adverse affect on contractors working in the oil and gas industry according to the Aberdeen and Grampian Chamber of Commerce.