Umbrella companies could be deducting more income tax
During their spring conference at the weekend, the Liberal Democrats announced that they want to see the income tax threshold raised to £10,000.
news
The latest news affecting umbrella companies in the UK. Featuring HMRC, the Agency Workers Directive, the 2003 Agency Regulations, and IR35.
REC to produce guidance on the Agency Workers Directive
With full implementation of the Agency Workers Directive less than 20 months away, the REC has announced that it will issue new guidance to help recruiters, contractors and umbrella companies ensure their businesses are compliant in time for October 2011.
Umbrella companies brace themselves for the Budget
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.
Umbrella companies, benchmark scale rates, and dispensations
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.
Complex UK tax regime provides opportunities for umbrella companies
The Federation of Small Businesses believes that the complex tax laws in the UK are hampering SMEs’ ability to grow.
Give umbrella companies a break!
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 that offer business services well placed
Companies selling consumer services are seeing improved fortunes according to the latest research from the CBI.
Business groups unite against National Insurance hike
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.
New method of collecting tax could benefit umbrella companies
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.
Urgent warning issued over National Insurance changes
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.
Royal courts of justice rule BN66 lawful
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.
Agency bring in stricter rules for umbrella companies
As of yesterday any gangmaster or umbrellas company that abuses the tax free allowance travel scheme will have their licences revoked by the GLA.
Calls to ensure that umbrella company contractors don’t lose out
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.
Warning that regulation change will target all
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.
Entrepreneurial freelancers find opportunities in recession
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.
Umbrella company contractors may face online screening
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.