To help the UK’s economy recover from the devastation caused by the coronavirus pandemic, the government has announced a 1.25% increase in National Insurance (April 2022), as well as a new Health and Social Care Levy (April 2023). A rise in National Insurance was perhaps unavoidable. However, the self-employed are …
Nobody likes the idea of a tax and National Insurance hike, but from April 2022, employees and employers will be expected to contribute towards the new health and social care plan. Umbrella employees will be subjected to a double-whammy, as we’re going to explain in this article. Keep reading, and …
How will the increase in National Insurance affect umbrella company employees? » Read the full story
Salary sacrifice isn’t for everyone. However, it can be an excellent way for employees to boost their earnings in a tax-efficient manner. This article sets out to answer the most common questions on salary sacrifice with umbrella companies. Keep reading to find out more. Do umbrella companies offer salary sacrifice? …
Can you use salary sacrifice with umbrella companies? » Read the full story
Umbrella company contractors will no doubt be aware that today is Budget Day. This is the day when we find out how the government intends to get people back into work and kick-start economic growth.
Umbrella company contractors might be interested to hear the REC’s opinion on the latest unemployment statistics.
After last week’s disappointing jobs statistics showed that youth unemployment is still increasing, the REC has called on the business community to become involved in proactive initiatives such as the Youth Employment Charter.
A new survey from the FSB confirms that small businesses would be more willing to take on staff if the coalition reduced employers National Insurance Contributions.
Employee benefit trusts and employment finance retirement benefits schemes are the latest to be targeted in proposed Treasury regulations.
The REC has written to the chairman of the Office of Tax Simplification highlighting the importance of a comprehensive review of the IR35 regulations.
The FSB had urged George Osborne to give small businesses time to implement any changes to the VAT rate and he did indeed do so in his budget speech yesterday.
The British Chamber of Commerce has warned George Osborne to tread carefully with his plans to increase taxes in today’s budget. UK umbrella companies will also be watching with interest.
The number of short term assignments for limited company contractors, sole traders and umbrella company workers is set to drop according to a new report by the Confederation of British Industry (CBI).
According to the Institute for Employment Studies (IES), the proposed hike in employer’s national insurance contributions will have a relatively small impact on the permanent employment market in the UK.
In my world, the term “self employed umbrella company” is a tad paradoxical. After all, a traditional PAYE umbrella employs their workers and provides (or should provide) the various benefits commensurate with employment.
According to the Conservatives, the proposed 1% increase in National Insurance Contributions will result in the loss of nearly 60,000 jobs from the UK economy. This figure was cited in their election manifesto, published on Tuesday.
There have been a lot of complaints recently about the proposed hike in NICs and the Tories seem to have taken heed.
