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Contractor News
This section contains the latest general news from the contracting world. You can browse more specific updates on areas such as tax legislation in our main sections.
Latest Contractor News
Contractor accountant faces jail stretch for stealing clients' funds
Darren Upton, who ran a contractor accountancy firm for many years, faces 6 years in prison after being found guilty at Leeds Crown Court for using his clients' tax money to fund a luxury lifestyle.
(Feb 9, 2012)
HMRC business record checking programme suspended
HMRC much-criticised business record checking campaign has been postponed, pending changes to make the checks more targeted and 'educational'.
(Feb 6, 2012)
Contractors should benefit as web economy set to double by 2016
A landmark report from the Boston Consulting Group outlines how the digital economy is set to boom over the next five years, providing ample opportunities for contractors.
(Jan 30, 2012)
David Miliband accused of hipocrisy following income shifting revelations
The Daily Mail has revealed that the former foreign secretary has been channeling his lucrative post-Westminster earnings through a limited company, where the shares are split equally between himself and his wife.
(Jan 29, 2012)
Compliance and security key to ongoing success of Parasol
Parasol Group has announced strong results over the past year, and says the firm's commitment to compliance is a key factor in its ongoing success.
(Jan 25, 2012)
Temporary workplace expense schemes under scrutiny after HMRC wins major tax case against Reed
A landmark tax tribunal case has found a leading employment agency to be liable for substantial back taxes, after 500,000 temps were reimbursed for expenses, which should have been paid as salary.
(Jan 24, 2012)
Self employed numbers reach record high, but FCSA calls on Government to support flexible working
The latest UK employment figures show that although the unemployment rate now stands at 8.4%, the number of 'self employed' has reached a new high of 4.2m.
(Jan 18, 2012)
Clients urged to take more care preparing specs, as most IT projects deemed 'unsuccessful'
A software firm has urged the UK's businesses to take more care when providing specs for IT work, to avoid going over budget, or even having to shelve projects entirely.
(Jan 18, 2012)
Time running out to register for self assessment online
HMRC has reminded taxpayers new to self assessment that they only have a few days left to register for online submission.
(Jan 17, 2012)
Leading outsourcing site reports rapid growth in demand for IT freelancers
Statistics released by the world's leading outsourcing site, show that the demand for IT freelancers is growing strongly.
(Jan 13, 2012)
2011 - a busy year for the contracting industry
2011 has not been lacking in excitement, with the birth of the AWR, ongoing economic uncertainty, and confirmation that IR35 is here to stay.
(Dec 23, 2011)
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)
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)
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)
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)
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)
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)
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)
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)
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)
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)
Contractor accountant made bankrupt over unauthorised currency scheme
Accountant Darren Upton, a familiar name in contracting circles, has been made bankrupt by the FSA following the collapse of a collective investment scheme he had been running for contractors.
(Sep 30, 2011)
New iPhone expenses app for IT contractors launched
A new iPhone app, which enables contractors to track and submit their expense and mileage claims online, is now available to download.
(Sep 30, 2011)
Contractors confident despite economic uncertainty
A survey of over 2,000 contractors and freelancers shows that the sector remains impressively confident about the future, despite the threat of continued economic strife.
(Sep 28, 2011)
PCG announces second freelance lecture to mark National Freelancers Day 2011
PCG's second annual freelance lecture will take place on 23rd November, in the LSO St Luke's in London.
(Sep 21, 2011)
Poll shows public support for increased flexible working
A new survey, carried out by two of leading industry organisations, shows that the most people believe that the government should facilitate more flexible working to stimulate the economy.
(Sep 19, 2011)
UK tax system slammed for being inefficient, complex and unfair
The Mirrlees Review has concluded that the UK's tax system is unnecessary complex, inefficient, and often unfair.
(Sep 16, 2011)
HMRC late payment penalty tactics criticised
An accountancy firm has suggested that HMRC is deliberately biding its time before issuing penalty notices for late employers' tax returns, in order to charge higher penalties.
(Sep 9, 2011)
Simpler reporting proposals could reduce contractor accountancy costs
New proposals to ease the financial and corporate reporting requirements of small businesses, including most IT contractor companies, could result in lower accountancy fees and less red tape.
(Sep 5, 2011)
HMRC and lenders join forces to combat mortgage fraud
A new Mortgage Verification Scheme has been launched, which will enable mortgage lenders to check applicants' income declarations with HMRC records in cases where fraud is suspected.
(Sep 4, 2011)
Contractor recruiters divided over importance of CV covering letters
A recent survey has provided an interesting insight into how recruiters process CVs, with wildly differing views held on the usefulness of submitting covering letters with contract applications.
(Sep 1, 2011)
Recruitment agency leaks contractor details to bank, union causes a stir
The PCG has hit out at a recruitment agency for accidentally leaking the names and contract rates of thousands of its contractors to a bank, however it is the 'knee-jerk' reaction of the Unite union which has seemingly caused the most alarm.
(Aug 26, 2011)
HMRC backdated tax claims against EBT users 'wildly innacurate'
A leading accountancy firm says that HMRC has launched its long anticipated clampdown against users of Employment Benefit Trust (EBT) schemes, but many of the claims for backdated taxes are 'wildly inaccurate'.
(Aug 25, 2011)
HMRC warns contractors over new wave of tax avoidance schemes
In the latest in a series of 'Spotlight' publications aimed solely at the issue of tax avoidance, HMRC has made a statement on the emergence of a new wave of tax avoidance schemes, aimed at contractors and highly paid employees.
(Aug 24, 2011)
London and South East home to two thirds of all new IT jobs
A recruitment company says that London is home 40% of all new IT roles being created in the UK, driven by a recovery in the financial sector and a new boom in technology start-ups.
(Aug 22, 2011)
Number of IT professionals in the UK reaches record level
The latest e-skills report provides a positive outlook for the IT industry, with demand for IT professionals at its highest level since 2008, and private sector IT spending nearly pre-recessionary levels.
(Aug 17, 2011)
Poll reveals common complaints about contractor accountants
A recent survey by an online contractor accountancy firm suggests that many accountants have no, or little understanding of the IR35 rules. Common gripes include rising fees, poor communication, and late filing of important documents.
(Aug 8, 2011)
Contractor fails in bid to have BN66 retrospective tax ruling overrturned at Court of Appeal
IT contractor Robert Huitson has failed in his bid to have his BN66 retrospective taxation ruling overturned at the Court of Appeal this week.
(Jul 26, 2011)
HMRC clampdown on pay day by pay day umbrella expenses abuse
HMRC has published further guidance to prevent unscrupulous umbrella companies from offsetting expenses against National Minimum Wage payments to their employees.
(Jul 23, 2011)
Parliamentary group to investiate why freelancers are under-appreciated
The first APPG roundtable was held at the House of Commons earlier this month, with MPs discussing how the Government can help to boost the economy by better utilising flexible working.
(Jul 20, 2011)
Limited company contractors should keep on top of their accounting obligations
A report by a firm of contractor accountants suggests almost half of the UK's small business owners lack even the most basic accountancy skills, and are therefore at risk from HMRC scrutiny.
(Jul 15, 2011)
Tax simplification body to examine how smallest businesses are taxed
The Office of Tax Simplification is to look at how the smallest unincorporated businesses are taxed, and to examine whether relief should be given to limited company owners who decide to disincorporate.
(Jul 13, 2011)
EBT clampdown - Government updates disguised remuneration FAQs
Earlier this week, the Government published a revised set of FAQs relating to draft legislation which put an end to the viability of employment benefit trust schemes for contractors.
(Jul 8, 2011)
Clampdown launched on VAT-dodging businesses
In the latest in a series of campaigns aimed at tax dodgers, HMRC is targeting small businesses who have failed to register for VAT when they should have done.
(Jul 6, 2011)
Contractors motivated by more than just money when seeking new opportunities
A survey conducted by an IT job site shows that many permanent and contract IT workers view fighting boredom in the workplace as an important factor when looking for new roles.
(Jul 5, 2011)
