The Bribery Act comes into force from 1st July 2011 and below are how PayMatters Umbrella Company are planning to adhere to its requirements in respect of incentives we currently pay to help generate recruitment agency referrals:
Following the Office of Tax Simplification review of IR35 and the Government proposing to keep IR35 in the last Budget, HMRC have introduced a forum to review how administration is being improved.
At PayMatters we are open to all options to address the Agency Workers Regulations (AWR) to ensure contractors working through our umbrella company have at least parity with permanent staff performing the same role at the same client.
The day has finally arrived and contractors will be eagerly waiting to see what the Chancellor, George Osborne, proposes to do with the much hated IR35.
Much hated because it is not always clear to contractors whether they will be caught by it or not and the effects of being caught could mean a large unexpected tax bill.
The Agency Workers Regulations come into force on 1st October 2011 meaning that any contractors you are currently placing who will have contracts beyond 24th December 2011 will be affected by the legislation.
The 24th December is the key date as it is the 12 week qualifying period after the 1st October.
The good news is at PayMatters we are here to help.
The Agency Workers Regulations (AWR) come into force on 1st October 2011 and these put added burden on the requirements of people employing agency workers. This affects the end client where the contractor is working, the recruitment agency who places the contractor and any umbrella company if the contractor is being employed through them.
The good news is that by working with PayMatters we can help take away some of this burden.
Following on from yesterdays budget the key changes for contractors working through Umbrella Companies or through their own Personal Service Companies (PSC) can be summarised as follows:
In the Budget Report the following was said about IR35:
Following publication of the OTS (Office of Tax Simplification) review of small business tax, the Government commits to making clear improvements in the way IR35 is administered. The Government has decided to retain IR35 as abolition would put substantial revenue at risk.
The Office of Tax Simplification has released its initial report into what is often called "The Son of IR35".
The findings seem to recommend to either scrap IR35 or keep it and police it better. Amendments and the possible merger of PAYE and NIC's are also cited as providing an opportunity to make the taxation of small businesses fairer.
In summary what they say about IR35 is: