http://blog.ukcontracting.net Just another WordPress weblog Fri, 12 Feb 2010 10:03:25 +0000 http://backend.userland.com/rss092 en There have long been debates and doubts about the role and responsibilities of a professional contractor, particularly in the eyes of HMRC. Now, independent professional membership association Professional Passport has announced plans to produce a formal definition of a professional contractor. This will concentrate on career professionals as opposed to ... http://blog.ukcontracting.net/2010/02/plans-to-develop-a-professional-contractor-definition/ There have been growing concerns that the Intra-Company Transfers system is being routinely abused. Now the Conservatives, in a policy announcement in the run up to the forthcoming general election, say they will impose a cap on the number of visas if they come into power. Intra-company transfers were introduced as ... http://blog.ukcontracting.net/2010/02/tory-plans-to-cap-intra-company-transfers/ Advice given by solicitors and accountants to their clients has always been deemed to be privileged information that cannot be divulged to others. And, while this may still be the case for legal advice given by solicitors, it no longer seems to be true for tax advice given by accountants. In ... http://blog.ukcontracting.net/2010/02/hmrc-wins-right-to-see-tax-advice/ Popular opinion has long been that there’s a love-hate relationship between contractors and agencies, which probably varies with need. However, new research from online recruitment marketplace TalentPuzzle suggests that agencies aren’t that popular with employers either. There is an acceptance that agencies have a useful role to play, especially since they ... http://blog.ukcontracting.net/2010/02/employers-unhappy-with-agencies/ There were no signs of dancing in the streets last week or of any other outpourings of joy to greet the UK’s long awaited move out of recession. This is hardly surprising given that the country rather limped into positive territory. Indeed, there is speculation that the 0.1% reported growth ... http://blog.ukcontracting.net/2010/02/positive-signs-or-just-a-blip/ The recent High Court decision that HMRC is entitled to levy taxes retrospectively has come as a great shock to many IT contractors. It is estimated that £100 million may now be recovered from UK taxpayers with around 2,000 IT contractors being affected. The case goes back to the 2008 Budget, ... http://blog.ukcontracting.net/2010/02/shock-as-retrospective-tax-changes-ruled-lawful/ IT has never been about learning a skill and then generally sticking with it for a large part of your career. If you plan to do that, pretty soon you won’t have a career because you’ll be left behind with outdated skills. The IT business changes faster than most and ... http://blog.ukcontracting.net/2010/01/getting-the-skills-to-keep-you-in-demand/ IT contractors, like many professionals, understandably seek to limit the amount of tax and national insurance they pay. One popular way has been to channel income into a trust fund based in a low tax country, with the income earner retaining ownership of the money through their position as a ... http://blog.ukcontracting.net/2010/01/decision-due-on-retrospective-tax-change/ After several months of consultation with industry representatives, the government finally laid before parliament the regulations to implement in the UK the EU Agency Workers Directive. The timing is to make good the government’s pledge to get the regulations on the statute books during the current session of parliament. However, ... http://blog.ukcontracting.net/2010/01/mixed-views-on-the-eu-agency-workers-directive/ The latest of a long line of initiatives to reduce the underpayment of tax is the Tax Health Plan, which is aimed at the medical sector. Medical professionals are being given until 31st March 2010 to register their intent to voluntarily disclose underpaid tax. Providing they then make full disclosure ... http://blog.ukcontracting.net/2010/01/hmrc-%e2%80%94-cracking-down-or-cracking-up/