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Missing the deadline for tax returns could prove expensive for contractors

Missing the deadline for tax returns could prove expensive for contractors

Today is the government’s official deadline for filing your self assessment tax return if you are self employed or a contractor working through your own limited company. With repeated warnings sent out to contractors throughout the year reminding them of the paper return deadline in October and then the January 31st deadline today, there should [...]

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Agency Workers Regulations cause employers to cut short umbrella contractors contracts

Agency Workers Regulations cause employers to cut short umbrella contractors contracts

As of October 2011, Agency Workers Regulations stated that temporary workers and contractors are entitled to equal employment rights as those in permanent contracts with the company after they have worked for the company for 12 weeks. This means they must come in line with permanent employees when it comes to pay and working conditions [...]

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IR35 explained

IR35 explained

One of the most important legal rules for contractors and freelance worker is IR35, which affects the tax conditions for every contractor. This can be difficult to understand so here is a very basic explanation to help you to know where you stand. IR35 is a rule brought in my the government to help bring [...]

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2011 – a review

2011 – a review

As we look back over 2011 it is clear to see that it has been both a tough, yet interesting year.  The economic climate made it difficult for many contractors, consultants and freelancers to get the level of work and pay that they needed.  However, all was not lost. 2011 was a year of many [...]

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Social networking for new recruits

Social networking for new recruits

If you are a contractor, freelancer or consultant it may be that you are looking to expand your business.  As the new year approaches, it could be the right time to recruit some new staff to help develop your business and manage your work load. So with social networking taking over the world, or so [...]

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Start-ups on the increase

Start-ups on the increase

According to the latest research by Creditsafe, start-ups have increased by 18%.  Around 470,000 limited companies were registered in 2011 and it is thought that as each year goes by this will increase by around 20%. The main locations for new start-ups are London, with around 160,000 and the South East with around 60,715.  It [...]

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Digital IT contractors remain in demand

Digital IT contractors remain in demand

JM Digital have released their latest report which shows that digital IT contractors are still very much in demand.  It seems that digital IT contractors are one of the most in demand contractors in the UK contracting market.  There have been increases in demand in the financial sector who are looking to develop their businesses [...]

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How much income tax should you be setting aside?

How much income tax should you be setting aside?

When it comes to paying income tax as a contractor it is important that you don’t leave yourself short.  The best advice is to only draw your dividends when you have enough in there to cover your contract accounts. Finances, especially in this tough economic climate, need to be in order.  You should always make [...]

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IT contractor hiring rises again

IT contractor hiring rises again

The public sector has seen a rise in its number of IT contractors since September of this year.  Over the last few months there has been an increasing amount of IT contractors taken on in the public sector. Computer People have released their latest data showing that the most significant rise was in the four [...]

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Prime Minister praises freelancers contributions to the UK economy

Prime Minister praises freelancers contributions to the UK economy

The work of freelancers in the UK has recently received the praise and recognition it deserves.  David Cameron has praised freelancers for the contribution they have made to the struggling UK economy.  Since 2008 there has been a 12% rise in freelancers in the UK and it is freelancers in the UK who are helping [...]

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