The governor of the Bank of England, Mervyn King, has warned that the UK economy faces a “choppy recovery” over the next two years. His comments came as the Bank lowered its economic growth forecast and said inflation would stay higher for longer than previously forecast.
They suggested numerous reasons for this but highlighted that a [...]
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The emergency budget was this afternoon read by George Osborne and here at Independent Contractor Services (ICS), we have compiled a list of key points which are likely to affect all contractors, whether you are a sole trader, paid via an umbrella company or even run your own limited company.
These key points are;
Positive
Negative
The personal allowance [...]
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Contractors working through their own limited company should be aware that from April 1st, 2010 all cheque payments for VAT, sent to HMRC by post will be treated as being received by HM Revenue and Customs on the date when cleared funds reach their bank account. It will no longer be the date when HMRC [...]
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In a bid to be more in tune with UK citizens, HM Revenue and Customs are increasingly using new technologies as they strive to keep us updated with changes in legislation, online filing and much more. They have a blog which is updated regularly and also a Twitter page.
Their most recent addition is the podcast. [...]
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Last week Chancellor Alistair Darling unveiled the Pre-Budget Report. Across the contracting industry there were gloomy predictions of what it might contain, but the good news is it wasn’t the disaster many thought it would be.
Below we have highlighted how specific measures will affect contractors. If you have any questions or would like more information [...]
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HM Revenue and Customs has confirmed that the rate of VAT for most firms will revert to 17.5% on January 1 2010, despite pleas for a postponement. HMRC said that all businesses, including contractors with limited companies, who apply the standard rate, will be affected by the move from the date.
From the first week of [...]
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