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Contractor banking: choosing a business bank account
Contractors who have decided to trade through a limited company must apply for a separate business bank account for their contracting business.
�any must set up a separate bank account for their contracting business , and may choose from a range of busines� �r contractors who are due to commence their first contract at short notice and will need to provide a proof�
Category:
Articles: Contractor banking
| Mon, 08 Aug 2016
Lords slam IR35: benefits are unproven and HMRC needs to review them
IR35’s benefits to the Exchequer may be overstated, concludes the Lords’ PSC inquiry, as HMRC is called on to review the future of the tax.
�mittee’s final report acknowledging that: “Serial contracting is a feature of the British workforce and is supp�
Category:
News
| Mon, 07 Apr 2014
Contractor hopes of IR35 reform dashed as Lords’ inquiry brushed aside by government
Contractor hopes that IR35 might be reformed have been dashed by the government’s response to the House of Lords Select’ Select Committee PSC inquiry.
�ainly continue to use commercial IR35 experts for contract reviews and opinions on their employment status.”�
Category:
News
| Wed, 11 Jun 2014
Contractors incorporate limited companies primarily to reduce risk, shows HMRC survey
Contractors choose to incorporate primarily to reduce risk, shows research by HMRC that fills knowledge gaps revealed during the Lords’ PSC inquiry.
�n. HMRC’s research also dispels one commonly held contracting myth that the administrative burden of incorporat� �y and because they would otherwise not be offered contracts by clients and agencies that contractors chose to� �l Insurance Contributions savings (NICs), to meet contract obligations and to enhance credibility. This is a�
Category:
News
| Thu, 09 Oct 2014
Public sector contractors may be forced into PAYE under new ‘off-payroll’ rules
Limited company contractors with public sector clients are facing new ‘off-payroll’ rules that could force them into PAYE or out of work.
�s that contractors earning over £220 a day and on contracts lasting more than six months are paying the corre� �lso urge departments to “consider terminating the contract if that assurance is not provided”. “These new ru�
Category:
News
| Wed, 23 May 2012
IT contractors in the NHS “unlikely to trigger” off-payroll or IR35 rules
IT contractors working on contracts with the NHS are unlikely to trigger the off-payroll rules. Good news as demand soars says Don Tomlinson of max20.
�is underscored by educating NHS clients about how contracting works: “The NHS is a fantastic employer with lots� �“IT contractors working on NHS contracts are unlikely to trigger the off-payroll rules whe� �ing forced onto Pay As You Earn (PAYE), or out of contract. “Demand is soaring within the NHS for experience�
Category:
News
| Wed, 29 Aug 2012
Off-payroll rules forcing contractors from the public sector due to poor guidance
EXCLUSIVE: Off-payroll rules are driving contractors from public sector clients as direct result of poor implementation guidance.
�s currently and formerly working on public sector contracts that the rules are being applied inconsistently a�
Category:
News
| Wed, 25 Sept 2013
Contractor brain drain: off-payroll rules threaten critical public service delivery
EXCLUSIVE: Contractors with essential skills are leaving the public sector, forced out by the off-payroll rules that threaten key service delivery.
�r who left a ‘body-shopping’ IT consultancy to go contracting, is concerned that the level of competition among� �s currently and formerly working on public sector contracts have indicated to ContractorCalculator that key p�
Category:
News
| Wed, 02 Oct 2013
Off-payroll rules drive public sector contractor exodus: HMRC steps up IR35 enquiries
The off-payroll rules are driving a contractor exodus from public sector clients & HMRC is targeting public sector contractors, says Qdos’ Seb Maley.
�s to contractors with key skills, who are leaving contracts because of the sheer hassle the off-payroll rules� �lt is that the contractor just leaves and finds a contract with a private sector client.” Poor guidance and�
Category:
News
| Thu, 03 Oct 2013
Off-payroll damage continues: costs spiral to replace contractors and apply rules
EXCLUSIVE: The off-payroll rules are backfiring further, as the taxpayer faces mounting costs of implementation and replacing terminated contractors.
�“From what contractors currently on public sector contracts, or who have recently left or been forced out, ar� �another third were asked to secure an independent contract review , and a quarter have to provide a deemed p�
Category:
News
| Wed, 09 Oct 2013
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