Umbrella contractors will not get tax cuts for Christmas
The Chancellor of the Exchequer, George Osborne, said recently that the government will be unable to cut taxes this parliament due to the global economic crisis.
tax
IR35 enquiries don’t seem to be bringing in the cash
Umbrella company contractors may be interested to learn that HMRC only yielded slightly over £200,000 last year from their enquiries into the IR35 status of self-employed workers.
Is HMRC about to improve its service to contractors?
Umbrella company contractors and small business owners could be relieved to learn that HMRC intends to improve the level of service it supplies to taxpayers.
Does top rate of tax affect umbrella company contractors?
The Treasury has estimated that the 50p rate of income tax will bring in an extra £12.6 billion over the next five years.
UK economy second worst of the G7 nations
The OECD has reported that the UK economy grew by a mere 0.7% in the last year, making it the second worst performing economy in the G7 nations. Only Japan’s economy performed worse than ours and it had the earthquake and tsunami to contend with.
Anglo-Swiss tax treaty signing is imminent
Contractors who have not chosen to invoice through a reputable umbrella company may need to know that the long-awaited tax treaty between the UK and Switzerland should be signed at the end of this month.
More people turn to ISAs as their savings account of choice
Official figures from HMRC show that people are saving more in tax-free ISAs than ever before.
Fraudsters to be offered disclosure facility
HMRC is to offer a disclosure facility to taxpayers, including umbrella company contractors, it suspects of fraud.
Can we achieve fiscal sustainability without raising taxes?
The Office for Budget Responsibility says that tougher austerity measures and higher taxes are needed if Britain is to achieve long term fiscal sustainability.
Umbrella companies warned on using expense scheme
HMRC has issued a warning to recruiters, including umbrella companies, against the adoption of a new business model for travel and subsistence.
Will you get a demand or a rebate from HMRC this year?
Contractors may want to ask an accountant to check their tax position after HMRC admitted that as many as 16% of people could have paid an incorrect amount of tax in 2010-11.
Fall in corporate insolvencies but we’re not out of the woods
Umbrella contractors may be relieved to learn that government data shows there has been a decrease in corporate insolvencies this year.
New anti-fraud technology will save HMRC millions
Umbrella company contractors might want to take heed of the news that HMRC has got some new anti-fraud technology that it hopes will save it up to £20 million a year.
Limited Company? Umbrella? Self-Employed Umbrella?
If you are entering into a contract with an agency you will no doubt have been faced with the daunting options of choosing your route – either going PAYE directly with the agency, going limited or using an umbrella company.
Umbrella company contractors need to check their tax calculations
The Low Income Tax Reform Group is urging taxpayers, including umbrella company contractors, to double check calculations if they receive letters from HMRC.
Business failures have started to increase again
Umbrella company contractors may be interested to learn that Equifax, the information solutions provider, has revealed that the number of business failures has been increasing since the start of the new financial year.