Further Contract Eye Updates
Tax rates and allowances - 2011/12
Key tax rates and allowances for the 2011/12 financial year - Income Tax, NICs, Corporation Tax, Dividend Tax, IHT, ISAs, VAT, CGT, AMAPs.
(Mar 24, 2011 in Tax )
Budget 2011 - key points for contractors
The key points from today's Budget, as they relate to contractors and freelancers. IR35 to remain in place.
(Mar 23, 2011 in News )
Budget 2011 - IR35 to stay
The Chancellor has announced that IR35 is to remain in place following the 2011 Budget.
(Mar 23, 2011 in IR35 )
Budget 2011 predictions - how will contractors fare?
Around this time of year, accountants tend to get excited about the measures the Chancellor is likely to deliver on Budget day. We examine the changes we already know about, and others that are likely to be announced on the 23rd March.
(Mar 22, 2011 in Tax )
Recruiters say HMRC too over-worked to cope with further IR35 enforcement
REC, the recruitment industry body, says that HMRC does not have the resources to devote to additional IR35 enforcement - one of the options provided by the Office of Tax Simplification last week.
(Mar 21, 2011 in IR35 )
Late filing contractors face harsh penalties from April 6th
New financial penalties are to be imposed on individuals who file their personal tax returns late after April 6th 2011. One contractor accountant has criticised the move by HMRC, preferring to see a more educational approach.
(Mar 21, 2011 in Tax )
Interim management market tested by economic downturn
A new report provides an interesting insight into the state of the interim management market in the UK.
(Mar 18, 2011 in Market Reports )
Umbrella company contractor expenses
One of the first things umbrella contractors ask is - what can they claim for on expenses? The truth and 'mistruths' about reclaiming contractor expenses.
(Mar 16, 2011 in Umbrella Companies )
Oil and gas contractors set to enjoy surge in demand in 2011
Contractors working in the oil and gas sector are expected to enjoy a boom year, as the demand for specialist skills is set to increase by up to 60%.
(Mar 15, 2011 in Market Reports )
Financial services contractor demand stable after January slump
The number of confirmed job offers made to financial services contractors rose slightly in February, but a sustained recovery would appear to be some way off yet.
(Mar 14, 2011 in Market Reports )
IR35 review - contracting industry reaction
Industry experts and interested parties have given their initial reactions to the IR35 alternatives proposed by the Office of Tax Simplification this week.
(Mar 11, 2011 in IR35 )
Alternatives to IR35 - the impact on contractors
In its interim report, the OTS proposed three main alternatives to the current IR35 regime. What impact would each scenario have on the contracting industry?
(Mar 10, 2011 in IR35 )
OTS IR35 interim report - what does it say?
The Office of Tax Simplification (OTS) has published its interim report into the way small businesses are taxed, which includes recommendations on how to deal with IR35.
(Mar 10, 2011 in IR35 )
PCG calls on Chancellor to abolish IR35 following OTS report
The UK's leading freelancer organisation has called on the Government to suspend IR35 with a view to permanent abolition.
(Mar 10, 2011 in IR35 )
Will OTS duck IR35 issue in its interim small business taxation report?
A report in The Telegraph today suggests that the Office of Tax Simplification (OTS) will highlight the difficulties of replacing IR35 with a workable alternative when it delivers its interim report into small business taxation tomorrow.
(Mar 9, 2011 in IR35 )
Most recruiters believe that IR35 cannot stay in its current form
The vast majority of recruiters believe that IR35 is ineffective and ripe for reform, according to a survey carried out by the Recruitment and Employment Confederation
(Mar 7, 2011 in IR35 )
OTS IR35 review - interim report due on 10th March
The Office of Tax Simplification has confirmed that it intends to publish its interim review of small business taxation (including IR35) on Thursday 10th March.
(Mar 4, 2011 in IR35 )
Tax simplification body gives verdict on UK's chaotic system of tax reliefs
The Office of Tax Simplification has completed its extensive review of the UK's 1042 tax reliefs, and made recommendations on whether over 150 reliefs should be retained, simplified or scrapped altogether.
(Mar 3, 2011 in IR35 )
Smart technology could signal the end for traditional contractor CVs
A leading job board has revealed the main CV mistakes made by IT professionals, and suggests that augmented reality (AR) CVs may help contractors show off their skills more favourably when applying for new roles.
(Mar 3, 2011 in Contract Work )
Tax cheats to be 'monitored' under new HMRC check-up plans
HMRC has launched a new programme to 'deter' hardcore tax cheats from re-offending.
(Mar 2, 2011 in News )
The rapid rise of the Indian IT training industry
A recent article reports on the rapid growth of of the Indian IT training industry, which offers courses for well under one third the price you'd pay in the UK.
(Mar 2, 2011 in News )
Why it is a good time to become an oil and gas contractor
With demand for oil set to increase rapidly over the next decade, experts predict that the demand for skilled engineers is likely to follow suit.
(Feb 25, 2011 in News )
Contract rates set to rise as IT managers can't get the staff
The fourth annual survey of IT directors, by ReThink Recruitment, has identified staff retention as the leading concern for the year ahead.
(Feb 24, 2011 in Market Reports )
Scottish contract market continues to recover
The contract market in Scotland continues to improve according to the latest Bank of Scotland Report of Jobs
(Feb 23, 2011 in Market Reports )
Umbrella company charges - how much should you pay in commission?
How do umbrella schemes charge for their services?, and are there any things you should look out for when comparing the fees charged by different umbrella companies?
(Feb 23, 2011 in Umbrella Companies )
Do female contractors get paid less than their male counterparts?
The first edition of the Parasol Insight Index suggests that a contract rate gender gap exists within the contracting industry as it does elsewhere in the economy.
(Feb 22, 2011 in Market Reports )
Contract jobs market still growing, but at a slower pace
The latest CWJobs / JobsAdsWatch survey of the IT employment market shows that while the demand for permanent IT staff continues to grow strongly, the contract job market is growing at a much slower pace.
(Feb 21, 2011 in Market Reports )
Big drop in demand for financial services contractors
A contract market report suggests that the number of opportunities available for contractors in financial services dropped by a massive 79% in January.
(Feb 17, 2011 in Market Reports )
New rules to clamp down on abuse of Intra-Company Transfers
New government rules to stamp out the abuse of Intra Company Transfers (ICT) have been announced by the Home Office.
(Feb 16, 2011 in News )
Accountants for contractors - what do they do?
If you are a limited company contractor, you will need to hire a specialist accountant to handle your affairs. What can you expect them to provide for their monthly fee?
(Feb 15, 2011 in Contractor Accountants )
New service launched to allow small companies to bid for Government contracts
A new service has been launched to allow small businesses to tender for Government business - part of an initiative to cut out waste and provide transparency in the way Government departments choose their suppliers.
(Feb 11, 2011 in News )
Lower corporation tax rate for limited company contractors from April 2011
HMRC has announced some changes to the way Corporation Tax returns and payments are made from April 2011. The small companies tax rate is also due to fall which will be welcome news to limited company contractors.
(Feb 9, 2011 in Tax )
Most contractors and freelancers feel valued by their clients
New research suggests that contractors are recognised for the value they bring to their clients, with 58% of those polled saying that they were appreciated for the work that they do.
(Feb 8, 2011 in News )
Contractors and consultants urged to take part in latest Skillfair contract rate poll
This year's Skillfair fee rate survey is underway. The results will provide a snapshot of the health of the contracting and consultancy market in 2011.
(Feb 7, 2011 in News )
How do I switch from an umbrella company to a limited company?
Moving from an umbrella to limited company structure should be a hassle free process - here are some things to bear in mind before making the move.
(Feb 2, 2011 in Limited Company )
Social media boom could create opportunities for freelancers
A new report has revealed how useage of social media sites is predicted to surge during 2011, potentially creating a range of freelance opportunities.
(Jan 31, 2011 in News )
OTS on target to deliver initial IR35 review report in coming weeks
The Office of Tax Simplification has completed a series of events around the UK, which highlighted the difficulties faced by small businesses and contractors - including the impracticability of IR35.
(Jan 28, 2011 in IR35 )
Accountant responds to tax simplification body on need to tackle IR35
A specialist contractor accountancy firm has provided a detailed response to the OTS in an effort to help simplify the tax system, particularly focusing on the need to reform IR35.
(Jan 26, 2011 in News )
Interim manager demand down in public sector, but daily rates rise
The interim management market has experienced a 8% over the past six months, following a marked drop in demand from the public sector. On the upside, average daily interim manager rates have risen over the same period.
(Jan 26, 2011 in Market Reports )
Guide to the most commonly used HMRC forms for limited company contractors
If you are a limited company contractor, you will need to be familiar with a number of HMRC forms, which cover VAT, Corporation Tax and your company payroll. Here, we look at what the most common forms are used for.
(Jan 25, 2011 in Tax )
Demand for IT skills set to grow strongly, older workers in demand
New research from e-skills shows that the demand for IT skills is set to grow strongly over the next 5 years, with the industry increasingly favouring more seasoned IT workers over the under 30's.
(Jan 25, 2011 in News )
Contractor secures IR35 victory against HMRC after seven year wait
A Tribunal has found in favour of IT contractor Mark Fitzpatrick, clearing him of using his limited company to avoid tax.
(Jan 21, 2011 in IR35 )
5 tips for IT contractor success - Part Two
More tips for contractor success in 2011, from dealing with permies to deciding upon a business structure.
(Jan 20, 2011 in Start-Up Guides )
Offshore contractor tax group to sue HMRC after 'unlawful' office raid
An offshore tax solution provider says it intends to take action against the authorities after a raid on its offices, subsequently deemed to be unlawful, resulted in bad publicity and job losses.
(Jan 18, 2011 in News )
Rising demand for freelancers in post-recession economy
A new trend survey of 1000 small business owners has revealed the extent to which on-demand resourcing and skills supplied by freelancers are helping the UK's estimated 4.8 million SMEs recover from the recession.
(Jan 18, 2011 in Market Reports )
What are BACS, CHAPS and FPS umbrella company payments?
If you are contracting via an umbrella company, you will be paid either by BACS, CHAPS, or FPS. So what do these acronyms mean?
(Jan 17, 2011 in Umbrella Companies )
Mixed outlook for contractors in financial services industry
The outlook for IT contractors within the financial services industry could remain uncertain during early 2011.
(Jan 13, 2011 in Market Reports )
Accountant reports surge in demand for limited company contractors
A contractor accountancy firm says that it has seen an unprecedented rise in the number of limited company contractors coming into the market - from a wide variety of industry sectors.
(Jan 12, 2011 in News )
5 tips for IT contractor success - Part One
If you are considering becoming a contractor, or are a seasoned veteran, here are 5 success tips from the Contract Eye team to help you get the most out of contracting in 2011.
(Jan 11, 2011 in Start-Up Guides )
Union asks HMRC to clamp down on false self employment practices of payroll companies
Construction union, UCATT, has urged HMRC to investigate how some payroll companies have been registering workers as 'self employed' in order to slash employers' National Insurance bills.
(Jan 7, 2011 in News )
