The festive season can be a quiet time for many umbrella company contractors; companies close down for a long break, and in the case of IT contractors, most of the major banks have told them to take a mandatory two-week break.
Contractors are no doubt aware that the government recently changed the rules on the amount of money people can put aside in a pension scheme and still benefit from tax relief. It used to be £225,000, but earlier this year chancellor Osborne reduced that to a mere £50,000 per year.
Umbrella company contractors with international skills could find themselves in demand after Vince Cable said people with such skills were in short supply.
The Forum of Private Business is warning companies that they could alienate their workers, including umbrella contractors, if they scrap this year’s office Christmas party.
Umbrella company contractors who receive tax credits or other financial assistance may be interested to learn that HMRC recently signed a deal with Experian to help it catch people who fraudulently claim tax credits and other benefits.
Umbrella company contractors might be interested to learn that despite the continuing economic turmoil at home and abroad this year, experts predict that more than 470,000 new businesses will have been created before the end of 2011.
Umbrella contractors working in the public sector have had a roller coaster year so far and they will probably be relieved to learn that demand for IT contractors in the sector rose sharply in September.