Industry News

HMRC is watching contractor tax evasion

29 June, 2011

Many thousands of UK umbrella company contractors who have undeclared earnings in offshore savings accounts should be aware that the HMRC is on a quest to uncover them.

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Fewer opportunities for contractors

21 June, 2011

In May, according to the latest Reed Job Index, UK job opportunities have dropped back for the second consecutive month.

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Job creation opportunities for Umbrella Company Employees

14 June, 2011

The wind turbine manufacturer, Vestas intends to build giant turbines in Kent, which could be good news for Umbrella Company Contractors working in the renewable sector.

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Retirement income in the UK

04 June, 2011

Umbrella company contractors should take this as a warning and look into the proposed flat-rate pension of around £140 per week as it will not be enough to live on when retiring.

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£11,000 per annum less for a four day week

03 June, 2011

A recent survey done by Marks Sattin, a specialist financial recruitment company, showed that two thirds of accountancy and financial service professionals would give up £11,000 a year for a four-day week.

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50% tax levy agreed with Switzerland

22 May, 2011

Swiss bank accounts held by Britons will be subject to a 50% withholding tax.

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Employee benefit changes as of April 2011

20 May, 2011

HMRC is offering employers who have used Employee Benefit Trusts the opportunity to resolve outstanding enquiries.

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Banking protocols are affecting company loans

14 May, 2011

The banking protocols that were put into place after the 2008 crisis for banks to encourage responsible lending, included rules to avoid the funding of tax avoidance schemes.

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Annual Returns reminder from HMRC

12 May, 2011

The HMRC has reminded employers that they could be facing penalties if they do not get their annual returns (P35 and P14s) submitted on line before 19 May.

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Net TARP Cost Estimates by both US Treasury & CBO

04 April, 2011

Individual and separate estimates have been issued by the United States Department of the Treasury and the Congressional Budget Office for the final cost of the Troubled Asset Relief Programme to the taxpayer.

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