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.
IntaPeople, an IT recruitment company has warned that key IT personnel, including those working through umbrella companies, will resign from the public sector and secure better opportunities elsewhere.
Both the BCC and the CBI have hit out at the coalition’s proposal to abolish the default retirement age from April 2011. The BCC’s director of policy, Adam Marshall, says this will restrict the ability of businesses to manage their workforce.
The government has announced that they will once again look at whether a general anti-avoidance rule should be introduced as a measure to deter limited company tax evaders.
The British Chamber of Commerce has warned George Osborne to tread carefully with his plans to increase taxes in today’s budget. UK umbrella companies will also be watching with interest.
Freelancers and contractors who rely on the public sector for contracts could find themselves struggling to find work according to the CIPD.
Small businesses and umbrella companies should plan ahead in order to cope with the changes that are likely to be introduced in next week’s 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.
