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Shout99 has a number of special offers for its readers to help you run your small business (click on red links for more information):
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PI insurance
From £165 for freelancers and management consultants |
Income protection/PHI
Tailored income protection/PHI insurance for freelancers |
Pensions
Online pension finder for freelancers |
Banking
Specialist banking service for small businesses and freelancers |
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This week we round up the issues in the Queen's Speech affecting freelancers, including the NIC changes, which include measures to tackle NIC avoidance; and a new Bill to clamp down on immigration abuses.
Shout99's Political News section: Queen's Speech
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Every cloud is meant to have a silver lining, and that seems to be applicable to contracting at the moment, particularly in the engineering sector.
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This week has seen a Clause 22 and a Catch 22 for contractors. Clause 22 of the Finance Bill contains the new rules on ensuring 'office holders' are caught by IR35, bringing the first legislative change to IR35 in a decade. They have been described as 'confusing'.
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Now the dust has settled on the Budget and the myriad of supplementary documents have been analysed, freelancers have a clearer idea of the issues which affect them....although it is what is ahead rather that what is actually known now.
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The last few weeks have seen a considerable amount of pre-Budget activity by the tax man to demonstrate the scale and success of their clampdowns on tax cheats.
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It has been six months since the representatives of the freelancing sector gathered around the table for a meeting of the IR35 Forum, so there should have been plenty to discuss, given the developments since then.
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Employment agencies could have more freedom to regulate themselves under proposals in a Government consultation. But some agency representatives are already predicting could solve some problems but create others.
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Freelancers have been keeping a close eye on a former Stringfellows lap dancer whose legal fight for employment rights could have a bearing on the criteria for employment status of contractors and the self employed.
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The Government has made clear how it that freelancers who are office holders for their client or those considered to be office holders will be caught by IR35 for tax purposes. So what or who is an office holder?
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What the Government gives with one hand it takes away with the other. The small print following the Autumn Statement brought a collective sigh of relief to the freelancing community as the Treasury dropped its ill-thought through idea to tax 'controlling persons' in organisations at source.
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