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.

CEST IR35 tool fails to deliver
Sophie Lewis
By: Sophie Lewis

CEST IR35 tool fails to deliver

Qdos: ‘It’s staggering that CEST allows so many contractors and businesses to be left in limbo. These are decisions that carry with them tens, sometimes even hundreds of thousands of pounds in tax liability’.

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Chancellor urged to extend furlough scheme to save jobs
Jaime Thorpe
By: Jaime Thorpe

Chancellor urged to extend furlough scheme to save jobs

CIPD: ‘If we are to achieve economic and jobs recovery in the second half of next year, the government must raise its ambition on job protection and investment in skills’.

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Calls for a Freelance Commissioner to support those struggling in the sector
Sophie Tyler
By: Sophie Tyler

Calls for a Freelance Commissioner to support those struggling in the sector

IPSE: ‘We are asking for a dedicated Freelance Commissioner – to look at freelancer support, to build the resilience of the sector and to champion the UK’s crucial freelance community’.

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Pandemic leads to rise in late payments
Sophie Lewis
By: Sophie Lewis

Pandemic leads to rise in late payments

The proportion of late payments has increased considerably since the pandemic began, with UK businesses reporting 47% of the total value of invoices are paid late.

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Self-assessment customers urged to watch out for scammers posing as HMRC
Jaime Thorpe
By: Jaime Thorpe

Self-assessment customers urged to watch out for scammers posing as HMRC

Many scams target customers to inform them of a fake ‘tax rebate’ or ‘tax refund’, with imposters using language intended to convince them to hand over personal information in order to claim the ‘refund’.

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HMRC confirms virtual Christmas parties are exempt from tax
Sophie Tyler
By: Sophie Tyler

HMRC confirms virtual Christmas parties are exempt from tax

HMRC: ‘The cost of providing food, entertainment, equipment and other expenses which may be incurred in hosting a virtual event, will be exempt, subject to the normal conditions of the exemption being met’.

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Third SEISS rules are stricter and more complex
Sophie Lewis
By: Sophie Lewis

Third SEISS rules are stricter and more complex

IPSE: ‘These complex rules may deter many self-employed from claiming support they need – and leave those who do always looking over their shoulder for fear of HMRC demanding the money back’.

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UK firms urged to file annual accounts sooner rather than later
Jaime Thorpe
By: Jaime Thorpe

UK firms urged to file annual accounts sooner rather than later

Companies House: ‘By asking companies to submit their accounts early and preferably online, we are trying to ensure that they experience peace of mind during the busy end of year filing period’.

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