It was recently reported that many people are not prepared for the day to day financial changes that take place on retirement and one reason for this could be that we simply do not believe that 65 is old.
Have you considered a contractor pension yet? » Read the full story
Due to recently discovered errors, HMRC has sent out its first round of approximately 45,000 letters to taxpayers, potentially including umbrella company contractors, informing them that their taxes were wrong. The total number of letters sent out should top 6 million by the end of this year.
Contractors contacted by HMRC told not to bury their heads in the sand » Read the full story
Nearly six million UK taxpayers, including umbrella company contractors, are due for a rude awakening, thanks to an error in the PAYE system.
PAYE errors causing umbrella company contractors headaches » Read the full story
Umbrella company contractors should consider themselves lucky not to have to undergo the sort of company training that many PAYE employees undergo, which often has no underlying purpose.
PAYE employees suffer from training burn out » Read the full story
The fiasco surrounding HMRC’s attempt to introduce a new system to cope with PAYE codes earlier this year continues with news that PAYE processing errors resulted in a 15.7% increase in underpayments and a 148% increase in overpayments.
HMRC coding errors led to a 148% increase in overpayments » Read the full story
Vince Cable has pledged to review the incoming agency workers directive but some employers are warning him not to jeopardise a deal that was previously agreed with the unions.
Don’t mess with the Agency Workers Directive! » Read the full story
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.
Umbrella companies could be hit with pension hike » Read the full story
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.
Go easy with tax increases says the BCC » Read the full story
There are more opportunities available for IT contractors according to the latest Monster employment Index report. 11% additional vacancies were advertised online in May compared to the previous month.
Employment index shows signs of growth » Read the full story
Morale is currently low at HMRC and employees have now been warned that they are in for tough times ahead. Chief Executive, Lesley Strathie, informed staff that they need to be realistic about the challenges they face.
Tough times ahead for HMRC » Read the full story
Ten of thousands of people, including contractors and freelancers, have been affected by the tax coding problems caused when HMRC migrated their records to a new computer system earlier this year.
Umbrella company workers affected by HMRC PAYE mistakes » Read the full story
Small businesses in the UK are spending too much time complying with red tape and government bureaucracy, according to a new report by the British Chambers of Commerce (BCC).
Some legislation “just isn’t needed”! » Read the full story
The Chartered Institute of Taxation has called on the new coalition to prioritise tax reform. They have written to George Osborne, the new chancellor, highlighted the need to simplify the current tax regime.
Current tax system “too confusing” for contractors » Read the full story
Small businesses, limited company contractors and umbrella companies could be among those affected by a drop in confidence following the result of yesterday’s hung parliament election.
Income tax and national insurance rises will hit hard » Read the full story
According to the Institute for Employment Studies (IES), the proposed hike in employer’s national insurance contributions will have a relatively small impact on the permanent employment market in the UK.
Impact of national insurance rise could be exaggerated » Read the full story
In my world, the term “self employed umbrella company” is a tad paradoxical. After all, a traditional PAYE umbrella employs their workers and provides (or should provide) the various benefits commensurate with employment.
The self employed umbrella company » Read the full story
