The taxman is u-turning his own u-turn on pick-up trucks, signalling ‘huge’ incoming costs for limited company contractors.
Contractor News Updates
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HMRC spotlights MSCs, ahead of umbrella company regulation
Advisers range from supportive to troubled about HMRC ‘reiterating’ nine tests that 1,000 IT contractors so far not passing is costing them £57,000. Each.
Non-dom’s death isn’t greatly exaggerated; it’s on 06.04.25
An overview of Labour killing the UK’s non-domiciled tax regime (includes the politics and practicalities).
‘Don’t do a Rachel Reeves and play with fire on your CV’
A series of LinkedIn edits by the ‘bragging’ chancellor seems at odds with claims that the Treasury boss has been honest.
Contractor mortgages ‘unlikely to reflect interest rate cut’
600,000 people on tracker mortgages just benefitted from the 0.25%-point shaving. For everyone else, the picture ranges from unclear to inflationary.
Three ways the 2024 Autumn Budget affects the umbrella company market
Guidance from a top assessor of payment compliance on how contractors can navigate the soon-to-be legislated against umbrella company landscape.
Elective Deduction Model: a clear, present, future danger
The EDM, or hybrid model, is set to do a brisk business in 2025 — much to the potential damage of agencies, clients and contractors.
HMRC hikes unpaid tax late payment interest rate by a ‘punitive’ 2.5%
LITRG, CIOT, WTT Group and IPSE object to an incoming 9% charge on tax debts.
Autumn Budget 2024 – the impact on umbrella contractors and the umbrella industry
Official estimates put the annual take-home dent at £800, industry estimates at £1,000. Either way, the chancellor giveth to HMT but taketh from the umbrella market — and in more ways than one.
Why your LinkedIn profile is a critical tool for winning contracts
In today’s contracting world, LinkedIn has become the primary stage where reputations are built and deals are won. Gone are the days when a CV alone could carry your career.
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