Following concerns that umbrella companies might be affected by some ambiguity in the legislation emerging out of off-payroll reforms. HMRC and FCSA held a productive meeting yesterday to confirm that the new legislation was not designed to capture the relationship between umbrella companies and recruitment agencies.
It’s World Mental Health Day on 10th October. We’d like to take the opportunity to remind our contractor customers that you have access to a free professional counselling service with Umbrella Rewards. If you are affected by mental or emotional strain, especially in these difficult times, login to the Umbrella Rewards Customer Portal and visit the 'Care & Support' area.
Reports suggest that the Chancellor Rishi Sunak could increase limited company contractor taxes to help reduce Britain’s COVID-19 debt.
The Autumn Statement isn’t expected until mid-to-late November at the earliest, but the rumour mill is already beginning to swirl - and tax hikes for companies and contractors look to be on top of the Chancellor’s agenda.
UK contractors’ average income dropped by 25% in the second quarter of 2020 according to the Freelancer Confidence Index, run by contractor interest group IPSE and PeoplePerHour.
The three-month period, which includes the height of the UK’s national coronavirus lockdown, saw a record fall in the average number of weeks worked by contractors in a quarter. In the 13 weeks between March and June, the average freelancer went five-and-a-half weeks without work.
Yesterday, the Chancellor announced new financial measures to support UK businesses and workers.
Primarily it seeks to address the concerns of the hospitality sector and those areas now deemed to be in Tiers 2 and 3. These new measures are due to come into effect after the current scheme ends on the 1st November and will run for 6 months.
Workers may be paid up to 67% of their wages up to a maximum of £2,100 per month if a business has to close under the Tier rules.
A controversial set of changes to off-payroll working (IR35) rules is due to take effect in the Private Sector from next April.
For contractors, the next few months represent a crucial period in which to prepare for the changes and minimise the financial impact of the tax changes.
To help you get ready for the April 2021 IR35 reforms, we have published a brief guide with only the key facts that you need to know about.
The Chancellor Rishi Sunak has unveiled a package of measures designed to support the economy, limit redundancies, and support small businesses and the self-employed during the ongoing coronavirus
A new report into contractor productivity has found that firms with at least 11% of their workforce as contractors are more productive, with each employee generating an extra £4,669 for their organisation on average.
Researchers from the Trinity Business School and the University of Derby said the results showed the important role that contractors can play in the UK’s recovery.
IR35 concerns and the coronavirus lockdown has had a negative impact on UK contractor wellbeing and finances, a survey has found.
The survey of over 1,000 limited company contractors found that many were disappointed to be excluded from government support schemes like the self-employed income support and furlough schemes.