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Dear Contractor,
Welcome to the February 2010 edition of our Contractor Newsletter. HMRC have won an important case allowing them to claim retrospective taxation from thousands of contractors. In our features this week we explain how to avoid managed service company (MSC) providers – resulting in significantly higher tax bills. Also we focus on some wealth management strategies for 2010 in an interview with Tony Harris from ContractorFinancials. And we advise a contractor whose agency tried to cut their rate in the middle of their contract.
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Thousands of contractors face backdated tax bills as the High Court rules that retrospective impact of BN66 does not breach European human rights law.
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MD John Brazier tells ContractorCalculator of PCG’s plans for 2010, including a focus on economic policy and ongoing political engagement.
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Contractors finding it tough to win contracts might get an edge over competition by showing willing to transfer knowledge to clients’ workers.
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It doesn’t matter how compliant a system you have, if you build the wrong stuff that doesn’t address the problem, it’s still a waste of money.
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Contractors can avoid MSC rules and non-compliant service providers, says Stuart Davis in his first interview since becoming SPA Chairman.
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Against a backdrop of economic uncertainty, Tony Harris of ContractorFinancials suggests a range of contractor wealth creation strategies for 2010.
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Sometimes clients expect you to train their staff as part of your contract. If you had never agreed to this then you don't have to - but you could turn it into an opportunity.
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The outlook for contractors is encouraging – the UK has emerged from recession and firms are showing improved optimism and growth.
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