News articles
IT contractor jobs
- Fresh Post January 4 Huge Increases in Travel Costs for Commuters
- Fresh Post November 29 Prime Minister Praises Thriving Freelance Industry
- Fresh Post November 14 Good News for IT Contractors
- Fresh Post April 5 Are engineering, construction contractors job prospects improving?
IT contractor tax
- Fresh Post March 2 HMRC Increase Working From Home Allowance
- Fresh Post February 28 Barclays ordered to repay £500 million in tax
- Fresh Post February 16 Civil Servants' Salaries Paid Direct to Ltd Companies.
- Fresh Post February 10 Contractor Accountant Darren Upton Jailed for Six Years
Contractor Technology
- Fresh Post April 5 Contracting news: Broadband now 'vital'
- Fresh Post April 5 Broadband cost reductions 'will not be felt immediately'
- Fresh Post April 5 Govt renewed commitment to cyber security welcomed
- Fresh Post April 4 Cybercrime risk may be underestimated
Contractor vetting
- Fresh Post October 19 Security Clearance Discrimination
- Fresh Post March 16 Health and safety should still be 'top priority' for contractors
- Fresh Post September 13 IT contractors 'not making the most of their skills'
- Fresh Post September 10 IT suppliers meet with gov't to discuss cuts
IR35
- Fresh Post February 16 Civil Servants' Salaries Paid Direct to Ltd Companies.
- Fresh Post September 26 Dramatic decrease in IR35 Reviews
- Fresh Post March 29 IR35 announcement 'unsurprising'
- Fresh Post March 28 MacIntyre Hudson slams govt's IR35 position
New VAT rules mean changes for contractors
VAT rules are set to change for contractors due to the 20 per cent rate that is due to be introduced in the new year.
The VAT rise means that contractors will be required to adjust invoices and take the new rate into account when completing VAT returns and claiming VAT back from business purchases.
Those working for umbrella companies will not have to adjust invoices as the umbrella company should be responsible for this.
Contracts started before January 4th and completed afterwards should be calculated carefully so that the 17.5 per cent VAT rate is charged for the work before the deadline and 20 per cent after.
The changes which will be effective from January 4th 2011, will see VAT rise from 17.5 per cent to 20 per cent.
This comes after David Cameron spoke of his support for those in the freelance sector on National Freelancers Day, saying contractors make a massive contribution to the country's economy.
The VAT rise means that contractors will be required to adjust invoices and take the new rate into account when completing VAT returns and claiming VAT back from business purchases.
Those working for umbrella companies will not have to adjust invoices as the umbrella company should be responsible for this.
Contracts started before January 4th and completed afterwards should be calculated carefully so that the 17.5 per cent VAT rate is charged for the work before the deadline and 20 per cent after.
The changes which will be effective from January 4th 2011, will see VAT rise from 17.5 per cent to 20 per cent.
This comes after David Cameron spoke of his support for those in the freelance sector on National Freelancers Day, saying contractors make a massive contribution to the country's economy.
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