Any payment model which has the words ‘tax avoidance’ associated with it, is one that should set the red flags waving furiously for any bona fide recruiter. Such is the extent of the problem that it is costing the Treasury some £100 million in lost earnings each year. So it comes as no surprise that the Government is now attempting to take a tough stance against such practices. But what does this crackdown mean to recruiters?
News
Contractor taxation – time for a complete overhaul
With all the imminent changes to the way contractors are paid, it’s great to have a clear voice calling for legislation to be reviewed to benefit them.
Contractor expenses continued
The forthcoming changes to travel and subsistence expenses for contractors is a topic that we have already talked about, but it’s so important for our industry that we want to further explain what is happening.
Dividend tax changes
Every year, you are likely to receive dividend income from your limited company. You will normally pay dividend tax on your earnings, however from 6th April some changes will impact on how your company is taxed.
Contractors – have your voice heard
Petition time
As you are probably now aware (as we have already written about this at length), the Government are pressing on with their intention to restrict tax relief on travel and subsistence expenses for temporary workers.
Supervision, Direction and Control – the story continues
Straight from the horse’s mouth
Last week I had the pleasure of meeting with the very people responsible for making decisions around the implementation of SDC at HMRC’s headquarters in a rainy London. I was accompanied by a number of umbrella company owners and directors representing All Umbrella Companies Are Equal (AUCAE).
Financial Services for contractors
If you are a contractor or have recently taken the first steps into contracting or freelancing then you will realize that your finances might be a little more complicated than a permanent employee. You might be receiving income from your own limited company in the form of dividends or you may be working through an umbrella company where your income might change from week to week.
2015 tax return checklist
Are you ready?
Most UK tax payers won’t ever have to complete a tax return under the Self-Assessment system as they pay the correct amount of tax through Pay As You Earn (PAYE) via their employer. However many of us will have to complete a return to allow HMRC to calculate how much tax we owe them (or sometimes they might owe us).
Keep Calm and Carry On
Business as usual
We’ve now had a few days to digest the information contained in Wednesday’s release of the draft legislation covering the treatment of travel and subsistence expenses for contractors. To paraphrase Mark Twain – “reports of the death of umbrella companies have been greatly exaggerated”.
One Click Group nominated for The ContractorUK Reader Awards 2015
The ContractorUK Reader Awards 2015 – sponsored by professional indemnity insurer Hiscox – have officially opened and are now accepting votes!
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