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Further Contract Eye Updates

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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 )

Umbrella schemes barred from fiddling National Minimum Wage calculations

An update to the current National Minimum Wage Regulations came into effect on 1st January 2011, preventing umbrella schemes from using travel and subsistence expenses in the calculation of the NMW.

(Jan 6, 2011 in News )

Umbrella scheme forced into administration to protect contractors

Two companies involved in running the Sunday Solutions contractor umbrella scheme have been forced into liquidation in order to protect the public interest.

(Jan 5, 2011 in News )

VAT rate changes from 4th January 2011 - how contractors are affected

The standard rate of VAT rises from 17.5% to 20% on 4th January 2011, and the Flat Rate VAT percentage applicable to most IT contractors also rises from 13% to 14.5%.

(Jan 3, 2011 in Tax )

Income shifting could be on Treasury radar once again

The tax director of the OTS says that income shifting may come into the spotlight again, as the tax simplification body reviews all aspects of small business taxation.

(Dec 21, 2010 in News )

Uncertainty set to continue for financial services contractors

The coming year is set to be a turbulent one for financial service IT contractors, with the Eurozone crisis and spending cuts causing uncertainly for potential employers.

(Dec 17, 2010 in News )

Contractor EBT legislation and 'disguised remuneration'

An overview of the disguised remuneration measures to be introduced by the Government as part of the Finance Bill 2011, and how users of contractor EBT schemes are affected.

(Dec 15, 2010 in News )

Does my contractor limited company name matter?

When setting up as a limited company contractor, what should you look out for when choosing a company name?

(Dec 14, 2010 in Limited Company )

Draft legislation signals end of IT contractor EBT schemes

The Finance Bill 2011 is set to spell the end to the viability of EBT schemes (employment benefit trusts), which have been heavily marketed to contractors in recent years.

(Dec 13, 2010 in News )

Contractor loses unfair dismissal claim at Court of Appeal

In the recent case of Tilson v Alstom Transport at the Court of Appeal, a contractor has had his claims for unfair dismissal rejected as there was no contractual relationship between himself and his end client.

(Dec 6, 2010 in News )

Do I need to register my ltd company for VAT?

At what stage do limited company contractors have to register for VAT?

(Nov 30, 2010 in Tax )

Drop in public sector accountancy contractor roles, but confidence climbing

Although the number of accountancy contractors working in the private sector has dropped significantly over the past year, the demand for their skills in the private sector has led to growing confidence within the sector.

(Nov 22, 2010 in Market Reports )

Most contractors choose freelancing as a long-term career option

A new survey of over 1500 contractors has revealed that nearly three quarters have actively chosen the freelance lifestyle as a long-term career option.

(Nov 22, 2010 in News )

Mirrlees Review of UK tax - how might IT contractors be affected?

The Mirrlees Review of the UK tax system, published by the Institute of Fiscal Studies, has recommended some radical changes to the way individuals and companies are taxed.

(Nov 18, 2010 in News )

How to register for VAT, and invoicing prior to receiving your registration number

When you set up as a limited company contractor, one of the first tasks you carry out will typically be to apply for the company to become VAT registered. How does the process work?

(Nov 17, 2010 in Tax )

Leading figures line up for National Freelancers Day lecture

The PCG's inaugural freelance lecture, hosted by Sue Lawley, is set to take place at the Stationers' Hall in London on 23rd November.

(Nov 16, 2010 in News )

New cross party parliamentary group for freelancers formed

A new All Party Parliamentary Group for the Freelance sector has been formed, following its inaugural meeting in the Commons last week.

(Nov 15, 2010 in News )

IT contract jobs market continues steady recovery

The latest quarterly survey of the IT jobs market by Salary Services Ltd shows that the IT contract market has recovered strongly this year.

(Nov 11, 2010 in Market Reports )

Should I take a permanent role or wait for the contract market to improve?

For many contractors, the very thought of having to take a permanent role again is usually enough encouragement to try extra hard to find work when out of contract. But what do you do when the contract market for your skills has dried up?

(Nov 11, 2010 in Contract Work )

October Monster Index reveals sharp jump in IT job openings

The October Monster Employment index has reported a strong rise in online IT job availability, following six months of relatively static growth.

(Nov 9, 2010 in Market Reports )

How contractors will be affected by the new pension tax relief rules

As part of the Government's ongoing cost cutting measures, new pension rules will apply for from 2011 which reduce the amount of tax relief available on contributions.

(Nov 8, 2010 in Money / Investing )

IT professionals feel picked on according to survey

It may be true, or perhaps IT workers are just more paranoid than most, but a new survey suggests that IT professionals believe they are treated worse than employees in other departments.

(Nov 5, 2010 in News )

Accountant offers workshops to recruiters on topical contracting issues

Danbro is offering a series of free workshops and training days for recruiters on topics affecting the contracting industry.

(Nov 2, 2010 in News )

Contractors and business owners urged to take part in PCG surveys

To coincide with National Freelancers Day on 23rd November, the PCG is urging freelancers and contractors to take a few minutes to complete a survey to ensure that the sector's collective voice is heard.

(Nov 2, 2010 in News )

IoD says Government must accept findings of IR35 review

The Institute of Directors says that the Government must accept the results of the IR35 review when they appear, to prove that they are fully committed to simplifying the tax system.

(Oct 25, 2010 in IR35 )

IR35 review - contracting industry expert joins OTS team

The OTS says that it is making good progress on both the tax simplification and small business tax reviews, and has recruited a team of leading private sector figures, including IR35 status expert, Kate Cottrell.

(Oct 22, 2010 in IR35 )

Public sector could make huge savings by hiring contractors

Following the Spending Review, a leading umbrella company says that hiring contractors could help make huge annual budget savings.

(Oct 21, 2010 in News )

Umbrella company contractors could pay too much tax under national payroll proposals

An umbrella company provider says that umbrella contractors could end up overpaying tax if proposals to create a centralised national payroll bureau go ahead.

(Oct 20, 2010 in News )

Contractor pension tax relief benefits slashed by Coalition

The tax saving benefits of contractor pensions are set to take a significant knock from April 2011 as the tax free limit is slashed in the Coalition's ongoing drive to ensure that the better off share the pain.

(Oct 15, 2010 in Money / Investing )

HMRC encourages online filing as paper tax return deadline looms

HMRC has urged taxpayers and their agents who still submit paper tax returns each year to consider filling online.

(Oct 13, 2010 in News )

5 things to watch out for when starting a new IT contract

A list of typical scenarios you might encounter when starting a new contract - and how best to deal with them. From the project manager on a power trip, to grievances over contractors' usage of the staff canteen.

(Oct 12, 2010 in Contract Work )

US IT contractor faces 10 stretch for malware bomb plot

Following his indictment last year, a US IT contractor has been found guilty of planting a malware bomb on a mortgage company's server and could face up to 10 years in prison.

(Oct 11, 2010 in News )

HMRC raid offshore contractor tax scheme offices

HMRC have raided the offices of an Isle of Man based contractor tax scheme, as the Government steps up the pressure on suspected tax avoiders.

(Oct 5, 2010 in News )

Contractors urged to keep accurate tax records to avoid HMRC scrutiny

Contractors are being urged to take extra care of their tax record keeping, as the self employed are now at a higher risk of being investigated by HMRC.

(Oct 1, 2010 in News )

Freelance Mastermind Session - Manchester 20th Oct

As part of the activity revolving around National Freelancers Day 2010, the PCG is holding a number of free mastermind sessions for contractors, to help overcome common business challanges.

(Sep 30, 2010 in News )

Government responds to contractor security clearance complaints

The Cabinet Office has responded to an online petition suggesting that IT contractors should be able to clear themselves to work on 'sensitive' Government projects.

(Sep 29, 2010 in News )

50% income tax rate set to stay says Cable

The 50% additional rate of income tax is set to remain in place for the foreseeable future, not least as it is considered to be a symbolic measure by the Coalition.

(Sep 27, 2010 in News )

Book your place for lecture on the future of freelancing

Contractors can sign up now to attend the PCG's first freelance lecture on 23rd November at Stationer's Hall, London.

(Sep 16, 2010 in News )

The benefits of LinkedIn for IT contractors

Why LinkedIn can benefit IT contractors and provide a low-maintenance way of keeping potential sources of contract work warm.

(Sep 16, 2010 in Contract Work )

Do I need to inform HMRC if I pay my wife a small salary via my company?

A reader asks if he needs to inform the authorities if he wants to pay his wife a small salary for 'administrative' work done for his company.

(Sep 14, 2010 in Tax )

Confidence returns for financial services IT contractors

A contractor poll suggests that the financial sector has rebounded significantly, as banks and other institutions revive projects which were put on hold as a result of the credit crunch.

(Sep 13, 2010 in Market Reports )

I haven't received a VAT registration number yet. Can I still include VAT on my invoices?

How contractors should account for VAT on their invoices before a VAT registration number has been issued.

(Sep 10, 2010 in Tax )

HMRC PAYE blunder highlights complexity of tax system

With millions of people due to receive PAYE tax rebates or demands for underpaid tax shortly, the ACCA provides some tips on how to deal with an HMRC demand for payment.

(Sep 7, 2010 in News )

Should I still bother with IR35 contract reviews if IR35 is going to be abolished?

Why contractors should not be complacent over IR35, despite the current OTS review.

(Sep 6, 2010 in IR35 )

PCG seeks contractors' views on the state of the market

Following an optimistic start to 2010 for the contracting industry, the PCG has launched a new poll to see how contractors view their prospects for the coming months.

(Sep 6, 2010 in News )