Latest Contractor News
Keep up to date with all the latest contractor news. We have written everything in plain English, so there’s no need to go to the overly complex HMRC website to learn about any tax and accountancy related updates.
New income allowances may cause confusion
LITRG is urging that HMRC publicise new income allowances when they come into force, as there are concerns that without appropriate publicity or guidance, some taxpayers may register for self-assessment and complete a tax return when they do not need to do so
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Government delays abolition of Class 2 NICs
A one year delay has been announced by the government with regards to the removal of Class 2 National Insurance contributions (NICs) in order to enable consultation on the impact of its abolition on the self-employed on low incomes.
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Jobs boom hits the UK, despite ongoing uncertainty
Despite ongoing uncertainty with regards to the UK economy last quarter, businesses up and down the country are proving to be resilient as Britain experiences a widespread jobs boom.
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Private sector could face the same IR35 fate as the public sector
With the IR35 public sector reform causing such havoc with the NHS and London Underground, it has now been revealed that there are serious talks about whether these changes will apply to the private sector too.
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LITRG urges for changes to universal credit for the self-employed
The LITRG have warned that without changes to universal credit for the self-employed, there is a high chance that people will be discouraged from starting up a self-employed career altogether.
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SMEs could increase their economic contribution significantly by 2025
SMEs currently contribute £202 billion to the economy – a yearly report has predicted that smaller sized businesses that are based in the UK’s top 10 cities will contribute an estimated £241 billion to the country’s economy by 2025.
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Businesses need to work smarter to protect themselves from cyber attacks
More UK smaller sized businesses are looking to invest in cyber security as cyber crime concerns grow significantly over the last 12 months.
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UK Employers need to act now to improve workforce
A new report has concluded that British businesses and the government need to work together in order to retain the UK labour market’s resilience.
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