The likelihood is, you have either arranged your accountant to do your self-assessment tax return, or, you have decided to submit it yourself. If you have not completed your tax return yet, there is still time but we recommend getting a move on. If you have already completed it, sit back and enjoy some of…
The 2014/2015 self-assessment tax return deadline is fast approaching. Hopefully you are on top of your paperwork and it has already been submitted to HMRC. If you have not completed or are in the process of completing your self-assessment tax return, please get in contact with your accountant urgently. Missing the deadline on 31st January…
Last months Autumn statement and the recent draft Finance Bill revealed that contractors working through an intermediary, such as an umbrella, will not be able to claim Travel and Subsistence expenses for ordinary commuting. This is unless they can demonstrate and provide evidence on the lack of Supervision, Direction or Control. It means that most,…
Now that December has arrived, there is no hiding from the fact that Christmas is less than 4 weeks away. As the build-up intensifies, days seem to get shorter as schedules become packed with shopping trips, social gatherings and last minute jobs. As 2015 draws to a close, there are many treats to look forward…
Cloud9 Umbrella is excited to have been put forward for the ContractorUK Reader Awards 2015. Please vote for us in the category “Best Umbrella Company”. Winning such a prestigious award would be an excellent way to end a thoroughly enjoyable and successful 2015. Please note that voting has now closed. We will keep you informed…
Despite much speculation, there was little detail regarding the restriction on travel and subsistence expenses, and a revision of IR35 in Wednesday’s Autumn Statement – the government will release more information on 9 December. All we know, is that changes on 6 April 2016 will affect workers engaged through an umbrella company, and individuals working…
It has been a turbulent year for contractors, especially those who work within the public sector and have been hit by the introduction of the “off-payroll” reforms in April. Now a storm of risky umbrella firms are luring temporary workers with promises of higher take-home retentions in a bid to sidestep the tax crackdown that’s…
Since the public sector reform in April 2017, we are still asked frequently by public sector contractors if they should continue using their own limited company or switch to an umbrella. The answer very much depends on each individual’s circumstances thus we would strongly encourage contractors to speak to us for tailored advice. Nonetheless, we…
The 2019 Loan Charge is HMRC’s next step in their crackdown on tax avoidance. They aim to recover unpaid taxes they deem to be owed by thousands of contractors who have used a disguised remuneration scheme. HMRC will be looking to collect payment for retrospective taxes from any individual who has used a disguised remuneration…
The outlook of the job market in 2018 continues to look promising for contractors. Vacancies, billings and pay rates remain encouraging, persistently growing throughout December and into the New Year. According to recruitment agencies surveyed for the REC/IHS Markit Report on Jobs, the introduction of new projects and a greater demand for short-term workers contributed…
Tax avoidance was once again at the forefront of the government’s agenda in the Autumn Budget. A topic that has been meticulously discussed, Philip Hammond announced during his speech on Wednesday 22nd November 2017 that “the Government is committed to tackling tax evasion, avoidance and aggressive tax planning.” We’ve already seen an increased focus from…
On 29th October 2018, Philip Hammond finally delivered the highly anticipated Autumn Budget 2018. After much speculation, it has been confirmed that IR35 reform will be extended to the private sector. Despite fears that the reform would be introduced in April 2019, the Chancellor of the Exchequer said the changes would not be implemented until April 2020.…