The latest news affecting umbrella companies in the UK. Featuring HMRC, the Agency Workers Directive, the 2003 Agency Regulations, and IR35.
The last budget before the general election will be presented on March 24th, the Treasury confirmed yesterday. It is thought that the Chancellor will unveil his plans to cut the growing public deficit by 50% over the next 5 years.
One of the gripes that many umbrella companies have it the inconsistency of scale rates between umbrellas which in turn creates an unlevel playing field.
The Federation of Small Businesses believes that the complex tax laws in the UK are hampering SMEs’ ability to grow.
You’ve got to feel sorry for umbrella companies. Apart from the odd hiccup (Albany), they provide a stonkingly good service to contractors and have done for the best part of ten years.
Companies selling consumer services are seeing improved fortunes according to the latest research from the CBI.
The government’s proposed hike in NI contributions is causing more controversy and now leading business groups are calling for the charge to be retracted.
The Tory party is looking at ways to change the way employees pay NICs and income tax contributions. At present employers deduct these contributions at source and forward the monies to HMRC.
Businesses no longer have the opportunity to file paper copies of their Employer Annual Returns. HMRC is writing to employers in the UK reminding them that they must complete their PAYE returns online no later than 19th May if they wish to avoid facing a penalty charge of up to £3,000.
At the Royal Court of Justice last month, the retrospective effect of BN66 was last judged as lawful. The rule was being tested with regards to whether or not it breached an individual’s human rights.
As of yesterday any gangmaster or umbrellas company that abuses the tax free allowance travel scheme will have their licences revoked by the GLA.
The Recruitment and Employment Confederation is urging contractors who are owed money from umbrella companies that have gone into administration to contact the administrator in order to obtain settlement for outstanding invoices.
More confusion exists over the Agency Workers Directive, this time for limited company contractors. Some people believed that the Regulations exclude limited company contractors but this may not be the case.
Small business entrepreneurs are feeling optimistic about the end of the recession as they expect profitability and revenue to increase despite the anticipated rise in tax, regulation and minimum wage.
As social networking sites become more and more popular, the lines between work and social activities are in danger of becoming somewhat blurred according to Felix Wetzel, the group marketing director at Jobsite.
The government’s proposed increase in National Insurance Contributions could result in contractors finding placements harder to come by according to the CIPD.
An umbrella company is the ideal solution for contractors who do not wish to set up their own limited company or become self employed. For contractors seeking a way of working which allows them to work on several contracts without administration, then an umbrella company is the answer.
