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Business groups have called on the Chancellor Rishi Sunak to delay a planned increase to National Insurance amid rising prices and a slowdown in recruitment activity.
Make UK, which represents 20,000 manufacturing firms in the UK, called the £12bn tax boost ‘illogical and ill-timed’. They argued that April’s 1.25 percentage point increase to the tax on employees and employers should wait until the economy is on a firmer footing.
New research has found that proposed changes to contractors' travel and subsistence allowances could cost them up to 20 per cent of their annual revenue.
In July of last year the government launched a review into expenses and benefits for contractors. On 23 September 2014 they published a discussion paper outlining their case for changing the current rules on tax relief.
The government believes that travel and subsistence expenses, like travel between workplaces and the cost of a meal at a temporary workplace, are over generous and outdated.
HMRC and the Treasury have published a weak response to a damning House of Lords committee report on off-payroll (IR35) working rules.
Industry commentators said that while the response acknowledged many of the issues facing limited company contractors, they failed to propose any proactive solutions.
Umbrella Companies featured in Treasury Questions this week with 2 questions from Labour MP’s.
The questions appear to show a misunderstanding about how compliant umbrella companies operate.
A group representing umbrella companies and employment intermediaries held a lobbying event on 11th March at the Houses of Parliament which has hopefully gone some way to clarifying these inaccuracies for those MP’s that attended.
