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Contractor Finances - News and Views
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Local Government Secretary to Simplify Tax Breaks for Ltd Company Contractors
Rather like “truth” in the X-files TV series, the tax breaks are out there, waiting to be claimed by small businesses and Ltd Company contractors. The trouble is that many will need the dogged tenacity and mental agility of Mulder and Scully to take advantage of them. All too often, lying between you and a [...] -
Why Contractors Should Invest in a Calculator this Christmas – VAT to Rise in January
It’s sometimes astonishing how quickly warm feelings can turn sour. This may be putting it a little strongly, or at least a little prematurely, but many in the UK’s contractor workforce may today be finding Prime Minister David Cameron’s recent fulsome endorsement a little threadbare. As a result of the 20 per cent rate, VAT [...] -
Warning to Contractors – Don’t Use Your Home as a Retirement Fund
As the economy attempts to claw its way back to full health in the wake of the recession, many voices, from the PCG to the REC to prominent government ministers, argue that the UK’s contractor workforce will be at the forefront of the recovery. But contractors working through either umbrella companies or Ltd Companies have [...] -
BCC Forecasts Prolonged Gloom Before the Economic Weather Brightens
Those in the UK’s contracting community may be interested in a new claim about the prospects of economic recovery made by one of the UK’s foremost business organisations – the British Chambers Commerce (BCC). But those of a nervous disposition may want to look away now; if the BCC’s economic adviser, David Kern, is correct [...] -
Lord Young to Become Enterprise Minister
Many analysts, including those advising government, believe that the UK’s small and medium-sized enterprises will play a pivotal role in economic recovery. The country’s freelance contracting community, of course, constitutes a major part of this force, and many of them may be heartened by the news that the government has appointed a new Enterprise Minister. The [...] -
SJD Accountancy and Contractor Mortgages Made Easy Enter New Partnership
It’s always been a little more complicated for contractors to secure mortgages than it has been for salaried employees; and in today’s climate, with uncertainty rife about the future availability of contract jobs, things may become just a bit tougher. However, one of the UK’s largest contractor accountants, SJD Accountancy, has just announced a partnership [...] -
Pension Auto-Enrolment May Benefit Contractors
From 2012, under new government rules, employees will find themselves enrolled in workplace pension schemes automatically at the end of three months of employment. For “permies,” this may sound like good news, but could it have a less intentional consequence? Workers will be automatically enrolled into workplace pension schemes after three months but can choose to [...] -
Reforming IR35 – The IoD Dons its Boxing Gloves
News emerged this week that a number of industry experts had been recruited to the Office of Tax Simplification in order to assist with the reform of tax laws as they apply to small businesses (see “From Spaghetti to Nouvelle Cuisine – New OTS Experts to Slim IR35 down”, October 26th 2010). The UK’s contractor [...]