Contracting News - Latest Updates

ContractorCalculator: Contracting news in brief - 05/Nov/2010
News this week includes last chance to enter PCG survey; tax gap threat from HMRC; IT contractor demand falls; and space sector escapes heavy cuts.

Contractors could face new HMRC investigation threat to fill UK’s tax gap
With HMRC receiving a £900m war chest, and a tax gap potentially as high as £125bn, is unwelcome attention likely to fall on contractors’ tax affairs?

ContractorCalculator Market Report November 2010
Contractors may actually benefit from opportunities following public sector spending cuts & job losses, as they did during the dark days of recession.

ContractorCalculator achieves over 100k unique visitors during recession – ABCe audit
ContractorCalculator received its sixth ABCe audit confirming >100k visitors a month, maintaining its contractor readership through a tough year.

Contractors face April 2011 pensions deadline as annual tax-free limits are reduced
On 14 October Chancellor George Osborne slashed pension allowances leaving many contractors in a race to top up payments before new rules kick in.

ContractorCalculator: Contracting news in brief - 29/Oct/2010
News this week includes progress with OTS IR35 review; pension law changes; IT contractor demand; surprise economic growth & oil & gas opportunities.

IR35 review making good progress as contracting expert joins ranks of new OTS team
The Office of Tax Simplification has announced good progress on its first two taxation reviews and recruited private sector experts to join its team.

ContractorCalculator: Contracting news in brief - 22/Oct/2010
News this week includes Spending Review & bank levy impact on contracting; AWR to remain unchanged; contractors lose pension relief; & new PCG survey.

Spending Review offers contractors positive news, but HMRC’s new fund causes concern
Spending Review to benefit contractors by investment in renewables and infrastructure, but will HMRC target flexible workers with its £900m war chest?

Contracting sector must adopt Agency Workers Regulations without changes
The contracting sector must implement the Agency Workers Regulations without amendments in October 2011, says employment minister Ed Davey.

ContractorCalculator: Contracting news in brief - 15/Oct/2010
News this week reports IT contractor cull at Lloyds; contractors to aid the economy; poor confidence hits contracts & property; and HMRC err – again.

Contractors’ pensions tax relief likely to be reduced by Coalition
Contractors face massive tax relief reductions, with the Treasury expected to announce new pension rules significantly cutting tax-free allowances.

Blow to IT contracting as Lloyds Banking Group axes over 1,000 contractors
Over 1,000 UK-based IT contractors are be terminated by Lloyds Banking Group, following the post-HBOS acquisition rationalisation of its IT base.

ContractorCalculator: Contracting news in brief - 08/Oct/2010
News this week includes jobs market stagnation; services growth stalls; potential conflict for offshore skills demand; & Mastermind sessions from PCG.

ICT contracting continues to grow, confirms Recruitment and Employment Confederation
The latest REC Technology report produced by e-skills UK confirms that demand for IT professionals has risen for four consecutive quarters.

Income shifting attack on contracting sector unlikely under coalition
The coalition government is considering tax breaks for married couples, possibly signalling the end of the income shifting attack on contractors?

ContractorCalculator Market Report October 2010
Contractors are set to benefit from improved confidence and activity across a range of key contracting sectors, but will this optimism be sustained?

ContractorCalculator: Contracting news in brief - 01/Oct/2010
News this week includes debate over IR35 future; prospects improve for IT, oil & gas contractors; caution urged over client finances & new PCG events.

IR35 reforms: what are the options and what might they mean for contractors?
The Office of Tax Simplification must tread a fine line as it considers the options for IR35 reforms, maintaining tax yield yet reducing complexity.

Changes to IR35 could impact on clients and agencies
Changes to IR35 that place extra costs and liabilities on clients could cause damage to the UK’s flexibility, says Alan Rommel of Parity Resources.

Contractors may benefit from radical new approaches to PAYE
HMRC closed its initial discussion over the future of PAYE last week after proposing a radical & creative alternative UK income tax collection system.

ContractorCalculator: Contracting news in brief - 24/Sep/2010
News this week includes crackdown on tax; contractors support economy; HMRC ideas for PAYE; contractor demand news & latest on PCG Freelancers Day.

Amendments to IR35 unlikely until April 2012 says expert
In theory, IR35 could change at the next budget, but in practice Qdos’ Andy Vessey predicts contractors could be waiting some time for amendments.

Contractors play key role in sustaining economic recovery
UK PLC will continue to grow, but at a slower pace, and flexible workers like contractors will play a key role in sustaining recovery, says the CBI.

ContractorCalculator: Contracting news in brief - 17/Sep/2010
News this week includes positive jobs data; HMRC PAYE errors; contractors look to financial services for work & PCG prepares for freelancers day.

ContractorCalculator: Contracting news in brief - 10/Sep/2010
News this week includes contractor demand bucks trend; public sector IT slump; AWR simplification; economic data updates & the latest news from HMRC.

Agency Workers Regulations: ARC suggests a more pragmatic approach
The Association of Recruitment Consultancies calls for a simplified and lower-cost approach to implementing the Agency Workers Regulations.

Contracting jobs market still bullish against backdrop of slowing employment growth
Growth in UK employment is slowing, but IT and engineering skills shortages are likely to benefit contractors, shows the new REC/KPMG Report on Jobs.

ContractorCalculator Market Report September 2010
Contractor demand continues to rise, but economic indicators suggest that the medium-term risks to growth out of recession have yet to be tackled.

ContractorCalculator: Contracting news in brief - 03/Sep/2010
News this week includes a unique new online IR35 test; a huge challenge to replace IR35; PCG members receive payouts and mixed economic indicators.

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