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Contractors should have a statutory right to be self-employed, expert tells Lords
Contractors should have a statutory right to be self-employed, the House of Lords Select Committee on PSCs is told in its latest evidence session.
�egislation. This evidence session was the turn of contracting, small business and recruitment industry experts�
Category:
News
| Mon, 16 Dec 2013
Contracting experts clarify to Lords how contractors really work without avoiding tax
Contractors’ use of limited companies and agencies is just good business and not tax avoidance, Lords told in latest PSC inquiry evidence session.
�Contracting, small business and recruitment experts told the� �to bid for a significant proportion of available contracts”. The Federation of Small Business’s (FSB) taxati�
Category:
News
| Wed, 18 Dec 2013
HMRC discovers extra £75m of IR35 tax yield, according to Lords’ PSC inquiry evidence
EXCLUSIVE: HMRC has upped its estimate of IR35’s tax yield by £75m, from £475m in late November 2013 to £550m in early January 2014.
�company contractor, agency payroll and fixed-term contract income tax and NICs revenues. How much is IR35’s�
Category:
News
| Fri, 10 Jan 2014
IR35 a “sticking plaster” on the tax system’s structural problem, witness tells Lords
IR35 is a “sticking plaster” on the UK tax system’s structural problems, says Amey’s tax head Robert Fort in the latest Lords’ PSC inquiry session.
�enuine substitutions are more commonplace in core contracting sectors other than engineering and oil and gas. P� �itor this”. Fort highlighted that Amey’s standard contracts do not explicitly refer to substitution and are c� �employees. However, Fort acknowledged that when a contract tender requires financial modelling and legal rev�
Category:
News
| Mon, 13 Jan 2014
PSCs are undefinable and ‘disguised employment’ is nonsensical, Chaplin tells Lords
ContractorCalculator CEO Dave Chaplin tells peers in written evidence that there is no definition of what a personal service company actually is.
�wledge-based services to business customers. In a contracting context, a PSC typically services one client at a� �ployees or not. People should have the freedom to contract and arrange their contractual business relationsh�
Category:
News
| Thu, 16 Jan 2014
Separating PSCs from other companies is an “impossible task”, shows Lords’ evidence
Contractor limited companies cannot be distinguished from other companies or product-based businesses, shows written evidence to the Lords’ inquiry.
�r umbrella employment businesses or on zero-hours contracts, just to give them the flexibility to pay for wor� �inty as to their tax status. This can change from contract to contract, and can be altered retrospectively o�
Category:
News
| Mon, 27 Jan 2014
Contracting bodies urged to support fight against public sector IR35 reforms
Contracting bodies are being encouraged to lobby against public sector IR35 reforms, which experts warn will soon be extended to the private sector.
�Contracting bodies have been issued a call-to-arms to get inv� �the numbers of workers being hired on fixed term contracts also remains a distinct possibility. Meanwhile, H� �PAYE through RTI on an individual when you have a contract with their company, not them personally,” notes F�
Category:
News
| Thu, 14 Apr 2016
False Self-Employment legislation - explained
Most contractors should remain outside of the False Self-Employment legislation, which is mainly targeting self-employed sole traders.
�under obligation to provide personal services The contract is via a third party agency contract The worker i�
Category:
Articles: False Self Employment
| Wed, 21 May 2014
Contractor banking – applying for and opening a business bank account
Once a contractor has decided which financial institution they plan to bank with, the next step is to work through the process of opening the account.
�ss Nature of the business – most banks will class contracting as ‘business services’ or ‘business consultancy’� �r – a calculation or estimate of the first year’s contract fees will normally suffice Any funding requiremen�
Category:
Articles: Contractor banking
| Mon, 22 Aug 2016
Save time and money with the Cashplus Business Account for contractors
Contractors can reduce their business banking burden with the Cashplus Business Account, says Cashplus financial commercial director Nick Biggam.
�establishing a business is securing new customer contracts and securing the funding, which often takes prior�
Category:
Articles: Contractor banking
| Thu, 04 Oct 2018
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