Newsletter 431: Budget news for freelancers and contractors

by Newsletter Editor at 10:15 24/03/14 ( Shout99 Newsletter)

It was a Budget for savers in general and the generation of 'silver' savers in particular. Freelancers will be affected by many of the measures which are aimed at the wider population, and might breathe a small sigh of relief that they weren't targeted specifically this year.

Clearly the new flexibility on pensions and increased saving opportunities with ISAs will have freelancers reconsidering their retirement plans. Our pensions expert Tony Harris from Contractor Financials explains in detail what the pension changes mean for freelancers. Less welcome will be the new powers given to HMRC including the ability to claim disputed tax upfront in a 'pay now, argue later' attack on certain types of schemes. Coupled with the power to take tax owing direct from personal bank accounts, this has led some to express concerns that there must be adequate safeguards in place to protect the 'innocent' tax payer. Shout99 also has a round up of reactions from industry bodies and trade groups, plus a range of other Budget stories of interest to freelancers, contractors and small businesses. These articles and the rest of our Budget coverage can be found in the Political News section of Shout99, where freelancers are also invited to take part in discussions on the subjects. Budget 2014 links on Shout99 Budget 2014 (10): Recovery of tax debts from personal bank accounts Budget 2014 (9): Simplification for Class 2 NI could cause misery Budget 2014 (8): Caution that crack-down doesn't deter investors Budget (7): Reactions from industry and associations Budget (6): What it means to freelancers - Brookson Budget 2014 (5): ISAs just got NISA Budget 2014 (4): HMRC extend circumstances to claim disputed tax upfront Budget 2014 (3): Pensions and freelancers/contractors Budget 2014 (2): Key points at a glance Budget 2014 (1): Budget speech in full *********************************************** Advertisement - Professional Indemnity Insurance (PII) *********************************************** Advertisement Shout99 has teamed with Caunce O'Hara to provide no obligation, quick online quotes for our readers. For more information or to obtain a quick quote, click here. Shout99 has teamed with Caunce O'Hara to provide quick online PII quotes for our readers in a range of freelancing fields. Professional Indemnity from Caunce O'Hara works in a number of ways: 1. It will cover you if you make a mistake in the professional services you have provided that leads to a dispute with a client. 2. The Indemnity insurance policy will also cover the cost of fixing any mistake on your part, thus avoiding a larger claim being made. 3. You are also protected if you lose or damage any clients' documents in your care or if one of your employees are involved in the theft of a clients' money. *********** Also..... *********** Ask An Expert, our expert panel answers questions from freelancer. Letters from Freelancers opens up discussions on a number of subjects of interest to freelancers. The Clubhouse is an area for 'off-topic' discussions. ******** Twitter ******** For the twitters and tweeters among our readers, you can follow Shout99's headline news on Twitter:... www.twitter.com/Shout99Ltd ************************ Shout99 - Newsletter ************************ Please feel free to forward this newsletter to any other freelancer or small businesses who may be interested in news and information related to running a small business. You can subscribe to receive your own free copy of this newsletter on the home page of Shout99. -- Susie Hughes, Editor Newsletter 431 Shout99 - the network for freelancers www.shout99.com

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