According to reports in the Sunday Times and Telegraph over the weekend, the Chancellor is considering hiking the Corporation Tax rate from 19% to 24% to plug the enormous black hole in the public finances. How much will this cost you?
Contractor News Updates
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The Finance Bill was approved without division in the House of Commons earlier today; a proposed amendment by David Davis MP to delay the Off-Payroll reforms until April 2023 wasn’t even selected for debate by the Speaker. This means that the private sector Off-Payroll legislation deferral to April 2021 remains unchanged.
David Davis, a longtime critic of IR35, has tabled an amendment to the Finance Bill tomorrow (Tuesday 19th May), which – if passed successfully – would delay the private sector Off-Payroll legislation until 2023.
As the COVID-19 pandemic continues to sweep across the country, it’s clear that all types of workers have been affected in one way or another. Often, it’s presumed contractors suffering from an illness will not receive any income for the time that they’re unable to work. However, you may be eligible to help, depending which […]
With most contractors ineligible to benefit from the main Government COVID-19 support schemes, the new Bounce Back Loan scheme may offer some relief to cash-starved small companies.
In response to the coronavirus pandemic, the government unveiled an unprecedented support system for employees – the Coronavirus Job Retention Scheme (CJRS). While workers and organisations have generally welcomed the scheme, there are still major questions regarding the treatment of umbrella workers.
The Government has announced a series of measures to support businesses and people through this period of disruption. Here, the team at Forma has put together an excellent summary of the various schemes, plus a calculator.
Limited company contractors won’t benefit from the new COVID-19 self-employed support package, unveiled by the Chancellor this week.
Today’s Budget confirmed that the April IR35 reforms will go ahead as planned. A series of smaller, positive announcements won’t make up for the seismic off-payroll changes, which are causing chaos at a time of unprecedented uncertainty.
An Early Day Motion (EDM) calling for the suspension of the April 2020 off-payroll implementation, and a meaningful review of the IR35 legislation is gaining momentum. With the help of contractors willing to take the time to get in touch with their MPs, could this EDM help create the much-needed pressure for the Chancellor to […]