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 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.
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.