How to become an IT Contractor - Becoming an IT Contractor

Doubts raised over effectiveness of 50p income tax rate
This week's public finance statistics show that the total tax received via the self assessment process fell compared to 2011, raising doubts over the effectiveness of the 50% additional tax rate.

EU agrees to cut accountancy burden for small limited companies
The EU has adopted a directive which will exempt many small companies from the accounting obligations they currently have, meaning that most contractor companies may no longer have to submit complex accounts each year.

Contractor accountant warns against anti-limited company rhetoric
Following the recent attacks on public servants who have been remunerated via their own personal service companies rather than PAYE, a leading contractor accountant says that the strong anti-limited company rhetoric we have seen in the last few weeks is damaging to the country's flexible workforce.

PCG warns against limited company hysteria following public sector remuneration revelations
The PCG is concerned that the current media hysteria over how some civil servants are being paid may give one-person limited companies a bad name.

Further IR35 irony as 25 DoH staff paid via their own limited companies
The Guardian has obtained leaked emails which suggest that more than 25 Department of Health staff are paid via their own personal companies, rather than by the more traditional tax route.

Accountant says Rangers administration fisaco should be a warning to contractors
Following the news that Rangers FC has gone into administration, a specialist contractor accountant has warned contractors that offshore EBT schemes can prove very expensive in the end.

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.

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'.

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.

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.

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.

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.

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.

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.

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.