Industry insiders raise issue with IR35 CEST tool

Many within the contractor industry have criticised HMRC’s CEST tool as not fit for purpose. The digital tool was designed by HMRC to help contractors determine their IR35 status but it has been scathingly criticised by the self-employment industry. ContractorUK firmly surmised it as: “wrongly seen as mandatory. Too blunt to be sector-specific. Unhelpful to…

What is the 2019 Loan Charge?

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…

A summer of opportunity: IT contractors in more demand than ever

The latest REC/IHS Markit’s Report on Jobs revealed some very promising news for contractors, particularly for those in the IT and computing sector. Research revealed that the slight softening of demand for contractors in June was an anomaly, as a surge in demand was spotted once again in July.   Demand for IT contractors In…

The number of female IT contractors has hit a record-high

Following on from our article in April where we discussed female contractors and how they are paving the way towards closing the gender pay gap, once again it appears that female contractors are flourishing within the self-employment industry. Data from the Office for National Statistics (ONS) has revealed that last year a record number of…

Making Tax Digital: what you need to know so far

The Making Tax Digital (MTD) initiative was first proposed in the 2015 Spring Budget. It is an essential part of the government’s strategy to make the tax administration system more efficient, effective and easier for taxpayers.   What does this mean for you? Making Tax Digital aims to make it simpler for business-owners, landlords, and…