Contractors must make sure their tax affairs are in order
HMRC is likely to become more vigilant when it comes to scrutinising the tax affairs of umbrella company contractors, freelancers and entrepreneurs.
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Despite projected GDP growth, the economic rollercoaster continues
Within 5 years, unemployment levels will reach 10% in over half the regions in the UK predicts the CEBR.
January’s VAT increase may be the first of many
Tim Denison from Synovate believes that the VAT increase which will come into effect next January could be the first of a range of changes.
Forget about tax evasion, honesty must be the best policy
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.
The REC responds positively to Tuesday’s budget
Contractors could be better off as a result of George Osborne’s announcement that the income tax threshold will change. The REC said that temporary agency workers who only work for short periods will be especially delighted with the budget announcement.
Will the employer’s NIC holiday benefit my umbrella company?
The FSB had urged George Osborne to give small businesses time to implement any changes to the VAT rate and he did indeed do so in his budget speech yesterday.
Go easy with tax increases says the BCC
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.
Umbrella companies need to plan ahead for emergency budget
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.
HMRC issue online VAT return reminder
HMRC recently issued a statement to remind people of the need to complete their VAT procedures online if they have an annual turnover in excess of £100,000 or registered for VAT after the first of April this year.
HMRC stand firm on late payments of VAT
According to new figures published by IT service provider Syscap, the number of Time To Pay VAT requests rejected by HMRC has more than doubled in the first 3 months of 2010.
Labour market set to remain tough for contractors
The number of short term assignments for limited company contractors, sole traders and umbrella company workers is set to drop according to a new report by the Confederation of British Industry (CBI).