HMRC has shelved plans to change IR35 legislation for at least one year. The Association of Independent Professionals and the Self-Employed (IPSE) claims to have received confirmation that no new legislation relating to IR35 and personal service companies (PSCs) would be published in 2016-17.

At the 2015 budget, the Chancellor George Osborne indicated that IR35 Intermediaries Legislation had to be changed because it wasn’t working properly. After a period of consultation, it seems that ministers want more time to assess the impact that any changes will have on contractors. 

New Year’s resolutions are notoriously difficult to maintain past the second week of January. How many times have you told yourself that you’ll go to the gym more this year, drink less alcohol or make and save more money?

Sound like you? Perhaps you are just making the wrong resolutions. Make a commitment to go self-employed in 2016 and watch your other ambitions come true as you reclaim control over your life. 

New research from the Citizens Advice Bureau (CAB) has found that less than half of people who say they’d like to be self-employed are actually working for themselves.

A lack of support and guidance for tasks like budgeting and filing tax returns was highlighted as one of the major barriers stopping would-be self-employed workers.

The national charity also found that the gap between self-employment aspiration and achievement grows larger for adults under the age of 35.

Almost half (48%) of people aged 18-34 said that they would like to be self-employed but only 7% of people in this age bracket work for themselves. 

In November 2015, prior to the release of George Osborne’s Autumn Statement, we wrote to the Chancellor raising our concerns in respect of proposed legislation changes to IR35, travel & subsistence tax relief for contractors and the one month rule that was incorrectly rumoured to being introduced for contractors working through their own limited company.

Today, 9th December 2015, we have received a reply and are thankful for the time taken in doing so.

Coincidently today is the day when the first draft of the new Finance Bill will be released. This Bill will contain the new legislation.

We'll be doing our bit in a Christmas knit for Text Santa Christmas Jumper Day!

On Friday 18th December, we'll be wearing our Christmas jumpers with pride, and making our woollies worthy by donating to the cause to help families in difficulty.

We love Christmas and can't wait for the 18th, so we're warming up and going all out with festive knits every Friday throughout December!

Some happy reminders from last year!

Self-employed workers, landlords and small business owners are all faced with the prospect of having to fill out four tax returns every year.

Filing accounts quarterly will bring small operations, who currently only have to send their accounts to HMRC once a year, into line with large corporations. Some believe that the extra administrative burden could be harmful to taxpayers but we believe that Umbrella.co.uk accountancy customers will fare better than most.

The plans, which were only recently discovered having been slipped into the small print of George Osborne’s Autumn Statement, will affect around four million Britons. 

Top cybersecurity contractors are charging major corporations more than £10,000 per day to protect them against organisational cybercrime.

As disclosed in the Chancellor’s Autumn Statement, the Government have drafted legislation changes that will see workers employed through umbrella companies no longer being eligible for tax relief (Income Tax and Employee National Insurance) on reimbursement of their travel and subsistence expenses.

The change is expected to affect up to 430,000 umbrella company workers.

Relief will be restricted where services are supplied under the supervision, direction or control of another person.

Editor | 4 December 2015
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With the ink barely dry on the Autumn Statement, chancellor George Osborne has announced that his 2016 Budget will take place in less than four months’ time on the 16th of March.

Importantly, this date is just before the new April tax year, which opens up the possibility that the Chancellor could enact some last minute tax changes that could be disadvantageous to contractors.