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Nearly half of UK contractors’ work comes from overseas clients and just over half expect the amount of work they do for clients outside of the UK to increase over the next 12 months.
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HMRC has added umbrella company, Charteris Management Ltd (CML) to its list of tax avoidance schemes. However, the move has been described by one expert as ‘not going far enough’, with another urging the tax office to start calling out ‘the big players’.
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It has been a confusing time for contractors and businesses that use their services, as the regulations and the political powers-that-be who administer them have operated a policy which has been a mixture of revolving doors and U-turns.
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If the Government is serious about ‘embedding simplification’ in the UK’s tax policy-making process it should retain the Office of Tax Simplification (OTS) and consider strengthening it, the Chartered Institute of Taxation (CIOT) has told the Chancellor.
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Reports that the new Prime Minister plans to reform the education system and make the UK more attractive to highly skilled non-UK nationals have been welcomed by agency representative body, APSCo.
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While the political fall-out from the controversial mini-Budget continues, a further measure has been announced which means that small businesses have just become bigger.
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New research shows that freelancers’ confidence in the UK economy for the next 12 months has fallen sharply from -27.4 in Q1 2022 to -56.7 this quarter. This represents the lowest level of freelancer confidence in the economy since the early days of the pandemic in Q1 2020.
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The President of the Chartered Institute of Taxation (CIOT) has called on the new UK Government to invest to improve HMRC’s 'unacceptable service' levels.
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Recent research has indicated how reliant small firms are on accessing freelancer's skills with more than two thirds saying they would use them to support their businesses.
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As skills disappear across the UK, employers are relying heavily on contract professionals to keep businesses operating as threats of a recession increase, according to agency group, APSCo.
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