Further Contract Eye Updates
Forming a limited company - which documents do you need to complete?
Contractors thinking of going into business for the first time may be daunted by the thought of forming a limited company. However, in reality, the company formation process is not complex.
(Dec 22, 2011 in Limited Company )
mCommerce IT contractors command high rates
A new report shows that contractors working in mobile commerce roles, building tools for smartphones and tablet computers, are likely to be paid at least 20% more than contractors in more general e-commerce positions.
(Dec 20, 2011 in Market Reports )
Limited company shareholders - changes to ESC C16 rules from March 2012
HMRC has announced that changes are to be made to the tax treatment of shareholder distributions when a limited company is wound up.
(Dec 19, 2011 in Tax )
AWR having minimal impact on IT contractor market
A recruitment body says that the recently implemented Agency Workers Regulations (AWR) appear to be having a limited impact on the professional contract market.
(Dec 18, 2011 in Agency Workers Regulations )
Contractor mortgages - steps to buying a new property
For contractors thinking of buying a new property, there are a number of typical stages you can expect to pass through from securing a mortgage offer, to completing on your new home.
(Dec 15, 2011 in Money / Investing )
Tax Tribunal hearing deems contractor to be part-caught by IR35
John Spencer, a retired IT specialist, experienced mixed emotions at a recent First Tier Tax Tribunal hearing, where a long-term engagement was deemed to be only partially subject to the IR35 rules.
(Dec 14, 2011 in IR35 )
Demand for digital IT contractors remains very high
The latest JM Digital quarterly market report shows that the demand for digital IT contractor skills remains very high, with the financial sector keener than ever to recruit the finest talent.
(Dec 13, 2011 in Market Reports )
How much should limited company contractors set aside for income tax?
If you are a limited company director, how much money should you put aside to settle your personal tax bill each year?
(Dec 12, 2011 in Tax )
Common sense self assessment tips for contractors
Some useful personal tax return tips for contractors to ensure you complete your self assessment form accurately and on time.
(Dec 8, 2011 in Tax )
Demand for IT staff rises, but overall employment figures grim
The latest monthly Report on Jobs shows that the demand of permanent IT staff is rising in an otherwise declining jobs market. The demand for contract continued to rise in November, but at a much lower pace than in previous months.
(Dec 7, 2011 in Market Reports )
Can you reclaim the cost of home broadband from your limited company?
In the latest of our series on limited company expenses, we look at tax treatment of broadband installed at home.
(Dec 6, 2011 in Tax )
Choosing an IT contractor bank account
If you're starting out as a limited company contractor, here are some tips for choosing the best business bank account for your company.
(Dec 6, 2011 in Money / Investing )
Christmas party expenses guidelines for contractors
Although most contractors work as one or two-man limited companies, with no other employees, you are allowed to claim back the costs of an annual party for your staff, as long as you follow the HMRC guidelines carefully.
(Dec 5, 2011 in Tax )
Dan Pink describes an intensification of freelance working in the UK
In the headline freelance webinar for National Freelancers Day 2011, he describes the intensification of freelance working in both the UK and the US, and explores the changing relationship between individuals and organisations.
(Dec 2, 2011 in News )
Contractors could benefit from infrastructure boost in gloomy Autumn Statement
The Chancellor's Autumn Statement will probably go down in history as one of the most depressing public finance statements ever made, although some of the measures may have a positive knock-on effect for contractors in the coming years.
(Nov 30, 2011 in News )
How can salary sacrifice arrangements reduce your tax bill?
Both umbrella and limited company contractors can benefit from significant tax breaks on pension investments. Our guide to salary sacrifice arrangements for contractors.
(Nov 29, 2011 in Money / Investing )
Can I buy health insurance or gym membership via my limited company
What are the tax implications of paying for health insurance or gym membership via your limited company?
(Nov 28, 2011 in Tax )
Can the colour of your clothes give you the edge at an interview?
Everybody knows how important it is to dress smartly when you are meeting a client for the first time or attending an interview, but could the colour of your clothes really give you the edge?
(Nov 28, 2011 in Contract Work )
What salary should I pay myself as a limited company contractor?
One of the most commonly asked questions asked by limited company contractors is what salary should you pay yourself?
(Nov 25, 2011 in Contractor FAQs )
Why upgrading your contract skills is the only option
Why it is important to upgrade your skills when competition for the best IT contracts is tough.
(Nov 24, 2011 in Contract Work )
IR35 Forum - HMRC proposals to target higher risk IR35 targets
The latest IR35 Forum minutes show that advances have been made over how HMRC proposes to more accurately identify IR35 targets in the future.
(Nov 23, 2011 in IR35 )
What's the best advice you would give a new contractor?
A recent survey found that the most important thing a contractor would give to someone starting out is to make sure they have funds put aside for a rainy day.
(Nov 22, 2011 in News )
Number of medical contractors surges, due to health industry shake-up
The number of doctors and nurses working as contractors has increased significantly over the past two years, according to a new study.
(Nov 22, 2011 in News )
PM praises economic contribition made by freelancers
David Cameron has praised freelancers for the contribution they make the UK economy, as new figures reveal that there has been a 12% increase in freelancer numbers since 2008.
(Nov 22, 2011 in News )
The benefits of having a website for your contracting business
Having a business website has a number of benefits for contractors, and given the low cost of entry, there isn't really an excuse not to have one these days.
(Nov 18, 2011 in Contract Work )
New IT contract market rate tool launched
The IT Job Board has released a new IT salary / contract rate monitor, which provides regional contract rate data, and the skills most in demand at any one time.
(Nov 17, 2011 in Market Reports )
Free webinars for contractors launched to celebrate NFD 2011
To celebrate National Freelancers Day, the PCG is to upload a range of webinars to advise freelancers on a wide range of subjects from winning new contracts, to building a strong profile and working as a contractor.
(Nov 17, 2011 in News )
Parasol umbrella company reaches 150,000 contract assignment mark
Parasol has announced it has reached some significant milestones as one of the UK's leading umbrella companies.
(Nov 17, 2011 in News )
Key accounting dates for limited company contractors
Some of the key accounting dates for limited company contractors, including PAYE/NIC and self assessment deadlines.
(Nov 16, 2011 in Tax )
Online contractor accounting - what are the benefits?
Most contractor accountancy firms have embraced web-based technology to some degree, but what benefits can you gain from using online accounting software?
(Nov 15, 2011 in Contractor Accountants )
Recruiter reveals contract roles most in demand in 2011, as market remains resilient
A specialist IT agency reveals the most advertised contract roles of the past year, and explains why the contracting market remains buoyant despite widespread economic uncertainty.
(Nov 14, 2011 in Market Reports )
More banks cut contractor rates as financial uncertainty continues
More investment banks have slashed contractor rates, bringing back memories of 2008-9, as the continuing financial crisis forces companies to take rapid action to cut costs.
(Nov 11, 2011 in Market Reports )
The 6 simple questions you should have asked your agent
Some important questions you should ask recruitment agencies when applying for contractor roles.
(Nov 10, 2011 in Contract Work )
IR35 raises millions each year from self-certifying contractors
A new Freedom of Information Request reveals that significant sums of tax have been raised from contractors who self certify themselves as being caught by IR35.
(Nov 9, 2011 in IR35 )
As a company director, can I keep my home address private?
Following the introduction of the Companies Act 2006, limited company directors can provide a 'service address' to appear on the public record, and keep their residential address private.
(Nov 8, 2011 in Limited Company )
Checklist to help compare contractor accountancy firms
To help you compare accountants effectively, try this simple checklist which you can use when talking to prospective accountants.
(Nov 6, 2011 in Contractor Accountants )
8 legendary recruitment agency tricks to be aware of
Some handy tips for contractors on how to deal with recruitment agents, and how to spot some of the classic tricks of the hiring game.
(Nov 4, 2011 in Contract Work )
How is net take home pay calculated for umbrella company employees?
One of the most frequently asked questions by umbrella company contractors is how much income they will receive after all deductions have been made?
(Nov 3, 2011 in Contractor FAQs )
Number of IT contract vacancies up by 5%
The number of contract openings advertised over the past quarter is up almost 5%, with the demand for contractors outpacing the demand for permanent staff.
(Nov 2, 2011 in Market Reports )
Top 20 contract rate negotiation tips
If you are about to start a new contract, or if you're coming up for renewal, these tips may come in handy to help you maximise your earning potential, while keeping on the right side of your agent and end-client.
(Nov 2, 2011 in Contract Work )
Will your new contractor accountant charge to form a limited company?
Most accountants can set up a limited company on your behalf, either for free if you're appointing them as your accountant, or for a fixed fee. How much can you expect to pay for this initial service?
(Nov 1, 2011 in Contractor Accountants )
Advice for contractors looking to secure a mortgage before year-end
With only eight weeks to go, the rush is on for contractors looking to move before Christmas. The good news is you still have time to secure a mortgage if you act now.
(Oct 31, 2011 in Money / Investing )
What can contractors learn from Vince Cable's VAT fine embarassment?
The bad publicity suffered by the Business Secretary over his non-registration for VAT shows the importance of keeping on top of your accounting and legal obligations.
(Oct 27, 2011 in News )
Fewer HMRC IR35 status enquiries, but tax yield per case soars
HMRC has released further data showing that the number of IR35 status enquiries has dropped dramatically since the early 2000's, but the tax raised per enquiry in more recent years has increased greatly.
(Oct 26, 2011 in IR35 )
Tax guide for limited company contractors
When you start to contract via your own company, you will be liable for a number of business taxes, in addition to the individual taxes you will already be familiar with when you had a permanent job.
(Oct 25, 2011 in Tax )
Limited company contractors and the Agency Workers Regulations
The ambiguous nature of the Government guidance to the AWR has resulted in confusion over whether or not limited company contractors are affected by the new rules.
(Oct 25, 2011 in Agency Workers Regulations )
Do you need to appoint an accountant for your limited company?
When you set up in business as a limited company contractor, do you have to appoint an accountant? What are the benefits?
(Oct 25, 2011 in Contractor Accountants )
Should accountants charge to bring your old accounting records up to scratch?
When you join a new contractor accountant, with incomplete accounting records in tow, should the new provider charge you to bring them up-to-date?
(Oct 25, 2011 in Contractor Accountants )
Providers who influence contractors to incorporate due to the AWR may fall foul of debt transfer rules
A contractor accountant has warned end users and agencies who influence contractors to work via limited companies in order to avoid the Agency Workers Regulations that they may fall foul of the debt transfer rules.
(Oct 20, 2011 in Agency Workers Regulations )
Direct contractors should keep on top of end client invoices as late payment times deteriorate
New data shows that the number of days businesses take to settle their outstanding invoices has increased markedly over the past year, with businesses in the North West the worst offenders.
(Oct 20, 2011 in News )
Report: Security clearance contracts still a closed shop for non-cleared contractors
A new report highlights the continuing problems contractors face in applying for security cleared roles, and suggests how the process could be improved.
(Oct 19, 2011 in Contract Work )
What is the link between IR35 and the Agency Workers Regulations?
Just as people were finally getting used to dealing with the complexities of IR35, the introduction of the AWR on 1st October provided another ambiguous set of rules for the contracting industry to get used to.
(Oct 18, 2011 in Agency Workers Regulations )
What is the Flat Rate VAT Scheme?
An overview of the Flat Rate VAT Scheme, and how it could be advantageous for some limited companies.
(Oct 17, 2011 in Tax )
PCG publishes free Guide to Freelancing e-book
PCG has launched a free Guide to Freelancing, aimed at both start-ups and long-term contractors.
(Oct 14, 2011 in News )
