In amongst the Britain’s Got Talent audition that the chancellor took part in yesterday were some announcements regarding the economy and some good news for contractors. We won’t repeat his numerous Christmas Cracker jokes but here’s the 5 key takeaways for contractors;
Like the Panama Papers before, the latest leak on the tax affairs of the world’s rich and powerful show that the tide is turning against tax avoidance schemes.
There is no suggestion that those implicated in the leaks did anything illegal, the Paradise Papers have reignited a public debate about the global structures that facilitate tax avoidance.
The leak has led to a further blurring of the line between legal tax avoidance and illegal tax evasion. It has also caused serious reputational damage for dozens of individuals and multinational companies.
Umbrella.co.uk staff are fundraising for charity with a Halloween 'dress up' day in the office...There's some scarily good costumes, giant spiders and zombies creeping about......
Calls from the Organisation for Economic Cooperation and Development (OECD) to revive plans for a self-employment tax hike have been met with scorn and confusion from self-employment pressure groups.
The last budget, delivered before the general election in June, included plans to increase National Insurance Contributions (NICs) for self-employed workers.
But in an embarrassing U-turn the Chancellor was forced to drop the tax hike when MPs pointed out that it contravened a 2015 election promise not to increase VAT, NICs or income tax.
Umbrella.co.uk is delighted to announce that our Employee of the Month for September is our lovely Spanish Senorita, Rebeca Rivas! Rebeca joined our Welcome Team 6 months ago and since then has made herself invaluable for her attention to detail, and very popular with our new customers! Well done Rebeca!!
Reforms to ‘disguised employment’ IR35 rules were introduced in the public sector this year. The new rules caused confusion amongst recruiters and lead to a take-home pay cut for many contractors.
Now the Treasury has dropped its strongest hint yet that similar reforms could be introduced in the private sector – with the potential to affect millions of contractors and freelancers.
A recently concluded court case could have far-reaching consequences for contractors on ‘too good to be true’ tax avoidance schemes.
In a warning sign to contractors that are thinking about using a dodgy ‘too good to be true’ remuneration scheme, MPs have been told that users of one type of tax avoidance scheme could risk bankruptcy in the near future.
The charge centres on a recently concluded Supreme Court Case between Rangers Football Club and HMRC and a tax avoidance scheme where an offshore Employee Benefit Trust (EBT) paid players and other staff through loans.
The government’s buying department, the Crown Commercial Service (CCS), is creating a new national framework for the provision of supply teachers.
Amid growing concerns about a nationwide teacher shortage, the government wants a better deal for temporary staff and the schools that recruit them.
Working with the Department for Education (DfE), the CCS is finalising a new agreement that will cover all temporary and fixed term teaching and non-teaching roles.
This includes unqualified teaching assistants, cover supervisors, supply teachers and head teachers as well as non-classroom personnel like clerical workers and cleaners.
To justify the new framework, CSS highlighted school spending figures on supply staff.
Our employees of the year had a great time at the When You Wish Upon a Star's 20th Black & White Ball on Saturday night.
The team snapped some great celeb selfies with stars such as Saracen from Gladiators, Nikki Sanderson from Hollyoaks, Will Mellor and the singer Carly Paoli.
A fabulous dinner and bubbly was followed by dancing into the night with some 'special moves' from Adam in Customer Services.
Umbrella.co.uk are proud to support and fundraise for this amazing charity who continue to grant the wishes of children living with life threatening illnesses.