Last year, HMRC opened a series of MSC investigations into the clients of some of the UK’s leading contractor accountants.
Contractor News Updates
We typically publish site updates when important events take place (such as upcoming changes to legislation, Budget reports). You can also keep up-to-date with the latest contractor news updates by following us on:
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Does HMRC already have the data to expose dodgy umbrella companies?
With the deadline now passed for submissions to the Government’s consultation into the potential regulation of umbrella companies, one particular question caught our eye at IT Contracting.
Managing your income and expenditure as a contractor – staying in control
No matter how you track your finances (e.g. spreadsheets or a notebook), understanding what’s happening with your cash is essential.
Is the umbrella company industry going to be regulated (finally)?
The government has published a consultation on proposals to tackle non-compliance in the umbrella company market. Now used by 500,000 people in numerous types of roles, it seems incredible that there is neither a legal definition of what an ‘umbrella company’ is, nor regulation of the industry itself.
Government launches consultation into IR35 double taxation issue
The Government has announced a new consultation into a ‘double taxation’ issue which occurs when a client determines the IR35 status of a contractor incorrectly, and both the deemed employer and the contractor may end up paying the same tax twice.
March 2023 Budget – how does it affect contractors?
The Chancellor delivered his Budget speech today at 12:30 pm. Here we look at how the measures he announced will affect contractors and other small business owners.
How much will the April 2023 Corporation Tax (25%) hike cost your company?
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?
Corporation Tax rise – do you have more than one company?
With the Corporation Tax hike only a few months away, if you have more than one limited company, you need to be aware of new ‘Associated Companies’ rules, which make things even more complicated.
Autumn Statement 2022 – dividend + CGT allowances cut, tax thresholds frozen until 2028
The Chancellor, Jeremy Hunt, announced a wide range of tax rises, mass tax allowance freezes and spending cuts in his Autumn Statement today.
April 2023 IR35 reform repeal cancelled – more pain for contractors
The Chancellor, Jeremy Hunt, has just announced that the April 2023 IR35 reform repeal – announced in Kwasi Kwarteng’s mini-Budget in September – will not be going ahead after all.
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