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.
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.
Umbrella companies allow contractors to achieve IR35 compliance. If a limited company contract is deemed ‘inside IR35’, contracting through an umbrella company is usually preferable.
This will become more important as an upcoming rule change will mean that many more contractors are caught out by IR35 legislation.
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.
Congratulations to Hannah Kelman on winning Umbrella.co.uk September Employee of the Month.
“Hannah is an asset to the payroll team; she consistently goes above and beyond!” Holly Oakes, Payroll Manager
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.
The Chancellor’s £30bn plan to protect jobs and boost the economy in the wake of the coronavirus outbreak doesn’t include everything on contractor’s wishlist, but some of the measures will be welcome.
The ‘mini budget’ includes plans to reward employers that bring back furloughed workers, increase the threshold on stamp duty and cut VAT in some key at-risk sectors.
Many industries have been rocked by the ongoing coronavirus pandemic. As the smallest entity in supply chains, contractors will be among the hardest hit by the virus lockdown.
For many contractors, the Coronavirus Job Retention Scheme (CJRS) has been a valuable source of support when other work has dried up.
Because umbrella companies employ umbrella contractors on a PAYE system, contractors have had the opportunity to receive furlough payments since the scheme was announced.