Thanks to a GrowthAccelerator, new business initiative recently unveiled by Vince Cable, £200 million in funding will soon be made available for the brightest businesses in the UK - and industry experts say that contractors that work with umbrella companies are in an excellent position to benefit from the new, positive attention.
Contractors working through limited companies might be tempted to switch to umbrella companies once the full extent of the Revenue’s IR35 assessment criteria becomes known next week.
Contractors working through umbrella companies may be surprised to discover that some small business owners would rather remortgage their property than reduce the size of their workforce.
Contractors may be interested to learn that interim managers working in financial services have been enjoying lucrative pay rates over the last six months.
HSE Passport, the firm that offers umbrella companies advice with Health and Safety legislation, is urging recruiters to make sure contractors receive health and safety training before they start a contract.
The UK’s banks claim they are will meet their Project Merlin lending targets for this year but small businesses, including some umbrella companies, are disputing the claim saying it is becoming harder and costing more to get a loan.
Umbrella companies should start thinking about the changes they will need to make to their payroll software so that they can implement HMRC’s Real Time Information system.
Results of a recent survey commissioned by APSCo show that demand for contractors, including those working through umbrella companies, has decreased by 13% over the last year.
Umbrella company contractors may be interested to learn that a firm of chartered accountants has expressed concerns about the plan to merge income tax and national insurance.