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Dear Contractor,
Welcome to the April 2010 edition of our Contractor Newsletter. With the Election not far away the Tories hope to win contractors support after committing to review IR35 should they gain power. The April Budget saw little effect on most contractors , except those with the “problem” of earning over £150K per year. Our calculators have all been updated in line with the new Budget figures, revealing a staggering 60% effective tax rate for contractors earning just over £100K.
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In a letter to PCG, Shadow Business Minister Mark Prisk promises the Conservative Party will “review” IR35 should the Tories win the General Election.
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The battles lines are drawn and week one of the election campaign has the hallmarks of a phoney war. Much said, but little substantiated with facts.
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ContractorCalculator’s comprehensive range of personal and business online interactive tax calculators have been updated with the latest Budget data.
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A new tax hits contractors. What are HMRC and the Treasury up to now? No, it’s not the usual suspects – it’s the agencies demanding timesheet levies.
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Baker Watkins’ James Abbott explains why building up a large cash balance in a contractor limited company can end up costing contractors more tax.
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When contracting for a former employer, contractors must prove their new relationship is different to avoid IR35, says IR35 specialist Kate Cottrell.
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Roger Sinclair of Egos highlights the potential risks contractors can face when they choose to continue working without a current contract.
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Contractors are benefiting from improvements in the UK’s economy, with more contracts and increased rates, but continued recovery is not assured.
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