Umbrella Company Articles

4Dm1n | 20 April 2012
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Expenses Policy Reminder

This is a reminder of an employees responsibilities in respect of sending in or retaining expense receipts.

Key Taxation Changes for Umbrella Company contractors from 6th April 2012 and for Personal Service Companies (PSC's) from 1st April 2012:

4Dm1n | 29 September 2011
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When a contractor leaves PayMatters we are always keen to know why and our aim is to ensure that the experience of being employed through PayMatters Umbrella Company has been a good one.

4Dm1n | 23 March 2011
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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.

4Dm1n | 23 March 2011
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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 good news is that despite first class postal costs rising to 60p for a first class stamp there is no need to incur postal costs when dealing with PayMatters Umbrella Company.

When becoming a freelance contractor there are a number of important decisions you need to make. The first is ensuring you get a contract that best suits your skills and not just offers the best rate of pay but will still present you with opportunities to increase your skill set and so contribute to your career.

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:

In todays budget although IR35 didn't get scrapped there was one small bit of good news for contractors who currently get reimbursed for travel in their own car in carrying out assignments.

Instead of being able to be reimbursed tax free at 40p per mile this rate has now increased to 45p per mile (for the first 10,000 miles in the tax year).

This change comes into effect from 6th April 2011.

4Dm1n | 10 March 2011
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The Office of Tax Simplification are set to report on their review of IR35 today 10th March 2010. The aim is to give the Chancellor 2 weeks to absorbe the recommendations prior to his budget.

In HM Treasury's own word the prupose of the Small Business Tax Review was (http://www.hm-treasury.gov.uk/ots_smallbusinessreview.htm:

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