Contractors Articles

Fewer Contractors Saving for Retirement

New research suggests that the pensions system is broken for independent workers, with a 12% increase in the number of contractors that aren’t saving for retirement.

The survey of 1,000 contractors shows that almost two-thirds of people that work for themselves avoid paying any money into a personal pension scheme.

That equates to almost three million contractors that may not have enough money when they finally give up work.

marketing | 12 March 2019
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Large and medium sized private sector organisations have just over a year left to prepare for important changes to IR35 legislation.

When similar changes were introduced in the public sector in April 2017, many organisations were woefully underprepared. In the most serious cases, public sector organisations made costly errors and saw major projects delayed.

Getting ready for April 2020 requires effective leadership and co-operation across departments and business areas.

In this blog post, we will provide a brief introduction to the changes before detailing what different teams can do to prepare.

 

How Brexit Will Affect Contractors
marketing | 12 February 2019
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Brexit day is fast approaching and there is little certainty over how the negotiations will turn out.

Whatever happens, Brexit is likely to impact contractors in the UK. There may be some benefits in the short and long term, but many contractors are also likely to face some restrictions on their work.

In this blog post, we investigate the most likely Brexit outcomes and how they will affect contractors in the UK.

Why Recruiters Need a Preferred Supplier List
marketing | 4 February 2019
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A preferred supplier list or PSL is list of pre-approved suppliers from which managers and employees can procure goods and services at a lower risk.

These lists are common for recruitment agencies as the contractors working through them tend to use the services of umbrella companies and other professional services providers.

Most agencies will require their PSL to be audited annually by external bodies, this reduces the likelihood of expensive compliance issues and other supply chain risks.

Contractors Pushed Down Insolvency Payout Pecking Order
marketing | 8 November 2018
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Last week , we covered some of the biggest Budget announcements and how they would affect contractors. This included a big change to private sector IR35 rules and other smaller changes to tax and spending.

Buried a little deeper in the Chancellor’s Budget statement, we uncovered one more change that pushes HMRC further up the payment pecking order when a business goes insolvent.

How the Spring Statement affects contractors

The Chancellor Philip Hammond delivered his annual Spring Statement on Wednesday, providing an update on the state of the economy and announcing several minor policy updates.

Although the Spring Statement doesn’t have the kind of wholesale policy announcements that are characteristic of the Autumn Budget, the Chancellor did have some important news for contractors and professional employment service providers.

Here’s a quick breakdown of the most important issues for the sector.

HMRC Launches Private Sector IR35 Consultation
marketing | 6 March 2019
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HMRC has launched a fresh consultation on changes to off-payroll Intermediaries Legislation (IR35), due to take effect in the private sector from April 2020.

The changes would see reforms introduced in the public sector in 2017 extended to the private sector.

The change will affect contractors that operate through an intermediary like a limited company or personal service company (PSC).

Instead of judging their own IR35 status, the private sector organisation that engages the contract will make this decision. It could mean that more contractors are deemed ‘inside IR35’ and liable to  pay income tax and National Insurance contributions.

Umbrella.co.uk supporting East Cheshire Hospice
marketing | 8 February 2019
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Umbrella.co.uk are delighted to be able to present a cheque for £2912.80 to the East Cheshire Hospice ( www.eastcheshirehospice.org.uk) this week. 

The Hospice has long been a cause Umbrella.co.uk have liked to support and the funds raised from recent activities will we hope go in some small way to supporting the fantastic work they do. 

The cheque is shown being presented by Peter Langham, Director of Umbrella.co.uk to Kate Bowmar of East Cheshire Hospice.

 

 

 

 

 

d the funds raised from recent activities will we hope go in some sma The cheque issented by Peter Langham, Director of Umbrella.co.uk to Kate Bowmar of East Cheshire Hospice.

The Construction Industry’s New VAT Headache
marketing | 13 November 2018
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The Chancellor’s most recent Budget contained new measures to combat VAT avoidance by companies in the UK.

As part of the Treasury’s strategy to combat ‘missing trader’ VAT fraud, contractors in the construction industry will have to grapple with confusing changes to the VAT system that could affect their cashflow.

Budget 2018: How It Affects Contractors
marketing | 30 October 2018
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Delivered by Chancellor Philip Hammond on Monday, the 2018 Budget was another important one for contractors.

In this blog post, we look at some of the most important announcements and how they will affect contractor pockets.

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