Umbrella CompanyUmbrella Company

Government stokes public sector Umbrella Company bonanza

Gerry Mclaughlin — Sun, 24 Mar 2013 15:59:22 +0000

Umbrella Company Bonanza We predicted that this would happen at the time and it has come to pass. We predicted that there would be a massive Umbrella Company bonanza resulting from the Government’s new rules and guidelines for its own departments. As ever, the new Government rules come in the wake of a media ‘scandal’ [...]

The post Government stokes public sector Umbrella Company bonanza appeared first on Umbrella Company.

Why do Governments always bash Freelancers?

Gerry Mclaughlin — Fri, 22 Mar 2013 10:07:22 +0000

Freelancers Successive Governments have seen fit to harass freelancers, setup rules and legislation like IR35 to bash them and invite people from other countries to come here and compete for their jobs. So, why do they do it? Don’t they know that someone who works as a freelancer works completely differently from a permanent person? [...]

The post Why do Governments always bash Freelancers? appeared first on Umbrella Company.

Offshore Tax Avoidance – 8 Ways the Chancellor intends to crack down

Gerry Mclaughlin — Thu, 21 Mar 2013 09:36:48 +0000

Offshore Tax Avoidance The Chancellor announced a number of measures he is going to take to crack down on offshore tax avoidance. Indeed he is going to pay for other measures like the mortgage scheme for first time buyers with the £4.6bn he expects to get from cracking down on offshore tax avoidance. Some experts [...]

The post Offshore Tax Avoidance – 8 Ways the Chancellor intends to crack down appeared first on Umbrella Company.

PAYE Umbrella Companies delight at Chancellor’s tax changes

Gerry Mclaughlin — Wed, 20 Mar 2013 15:01:32 +0000

PAYE Umbrella Companies Many onshore UK companies were avoiding payroll tax by sending wages through intermediaries offshore. Many of the temporary staff they used didn’t even know it was happening and were in danger of losing sick pay and maternity benefits. Now the Chancellor has put a stop to it. Said one PAYE Umbrella Company [...]

The post PAYE Umbrella Companies delight at Chancellor’s tax changes appeared first on Umbrella Company.

How Umbrella Companies will be affected by Budget 2013

Gerry Mclaughlin — Sun, 17 Mar 2013 14:50:43 +0000

Umbrella Companies The days of the Chancellor and HMRC bashing PAYE Umbrella Companies seems to be over. They took aim at Managed Service Companies and abolished them and many people thought they would then take aim at PAYE Umbrella Companies next. After all the Government had set up IR35 to stop ‘disguised employees’ avoiding tax [...]

The post How Umbrella Companies will be affected by Budget 2013 appeared first on Umbrella Company.

Why PAYE Umbrella Companies are loved by the UK Government

Gerry Mclaughlin — Thu, 21 Feb 2013 09:50:07 +0000

PAYE Umbrella Companies Do you wonder why the Government loves PAYE Umbrella Companies so much? The Government announced yesterday that the auction for 4G licences for the telecoms companies had brought in £2.3bn. That’s less than the expected £3.5bn and much less than the £14bn raised during the auction for 3G during the dotcom and [...]

The post Why PAYE Umbrella Companies are loved by the UK Government appeared first on Umbrella Company.

Isle of Man Umbrella Companies legal

Gerry Mclaughlin — Tue, 19 Feb 2013 09:27:44 +0000

Isle of Man Umbrella Companies Offshore Umbrella Companies set up in the Isle of Man are normally legal according to UK laws on loans set up by the Thatcher Government. Within the first month of getting to power the Thatcher Government made moving funds offshore untaxable and loans free of tax too. Tory Grandees have [...]

The post Isle of Man Umbrella Companies legal appeared first on Umbrella Company.

Will all one-client Freelancers be in Umbrella Companies?

Gerry Mclaughlin — Wed, 06 Feb 2013 14:26:09 +0000

Umbrella Companies What is the end game for the Government as far as Freelancers, Limited Companies and Umbrella Companies are concerned? Most freelancers used Limited Companies in 1999 pre-IR35 and few were in Umbrella Companies. Now there are over 200,000 freelancers using Umbrella Companies. However, the majority are stilling using Limited Companies. According to one [...]

The post Will all one-client Freelancers be in Umbrella Companies? appeared first on Umbrella Company.

HMRC appeal Rangers use of Offshore Umbrella Companies

Gerry Mclaughlin — Mon, 04 Feb 2013 15:53:43 +0000

Rangers HMRC have lodged an appeal over Rangers FC’s use of offshore umbrella companies as they are commonly called or Employee Benefit Trusts as they are technically known. Rangers used this mechanism for paying part of the wages of their players between 2001 and 2010. HMRC said that this was income and not a loan. [...]

The post HMRC appeal Rangers use of Offshore Umbrella Companies appeared first on Umbrella Company.

Revenue to target IT Contractors who avoid tax

Gerry Mclaughlin — Tue, 29 Jan 2013 12:01:00 +0000

IT Contractors who avoid tax The Irish Revenue have decided to have a clampdown on IT Contractors. They say that IT Contractors avoid tax by setting up Limited Companies. Many UK contractors work across the Irish sea. The Irish Revenue are gearing up to chase thousands of contractors working in Ireland. They are targeting those [...]

The post Revenue to target IT Contractors who avoid tax appeared first on Umbrella Company.

HMRC Umbrella Company Preference

Gerry Mclaughlin — Tue, 29 Jan 2013 10:53:00 +0000

HMRC Umbrella Company Preference The HMRC Umbrella Company relationship is a misunderstood one. It used to be thought that HMRC didn’t like Umbrella Companies as they allowed contractors to claim expenses against tax that permanent employees could not. It was thought that HMRC and the Government would rather have them paying IR35. The Professional Contractors [...]

The post HMRC Umbrella Company Preference appeared first on Umbrella Company.

PAYE Umbrella Company History

Gerry Mclaughlin — Sat, 26 Jan 2013 14:48:00 +0000

Umbrella Company History The PAYE Umbrella Company history started circa 1999. There may have been Umbrella Companies prior to that but few freelancers used them. Most freelancers, instead, used Limited Companies. THat all changed in 1999. THere was a clamour in the press about what they called ‘disguised employees’. There was a rash of companies [...]

The post PAYE Umbrella Company History appeared first on Umbrella Company.

David Cameron profited from Offshore Umbrella Companies

Gerry Mclaughlin — Fri, 25 Jan 2013 09:21:25 +0000

Offshore Umbrella Companies David Cameron’s family made its fortune from Offshore Umbrella Companies in places like Geneva, Jersey and Panama. Ian Cameron, David Cameron’s father, set up the schemes after Margaret Thatcher relaxed the rules on money sent offshore in her very first month in power. In those days it was only the people in [...]

The post David Cameron profited from Offshore Umbrella Companies appeared first on Umbrella Company.

The Best Umbrella Company market for years

Gerry Mclaughlin — Wed, 23 Jan 2013 13:13:41 +0000

Best Umbrella Company Market This is the best umbrella company market for a number of years. Contractors are moving more and more towards them. This is helped, in no small part, by the Government’s new attitude to Umbrella Companies. It used to be thought that the Government was opposed to Umbrella COmpanies. Indeed they went [...]

The post The Best Umbrella Company market for years appeared first on Umbrella Company.

Parliamentary Committee investigating dodgy Umbrella Companies

Gerry Mclaughlin — Thu, 17 Jan 2013 15:27:09 +0000

Umbrella Companies A Parliamentary Committee are currently investigating Payroll Companies. These are known to you and me as Contractor Umbrella Companies. Although they are not specifically looking at the IT industry, indeed their focus is mostly on Construction, their conclusions will affect IT Contractors and their Umbrella Companies. One of the senior Committee members is [...]

The post Parliamentary Committee investigating dodgy Umbrella Companies appeared first on Umbrella Company.

IBM, Google, Dell, CSC, Oracle, Microsoft avoiding UK tax

Gerry Mclaughlin — Tue, 08 Jan 2013 12:56:12 +0000

Avoiding UK Tax Some of the top multinational IT companies are avoiding UK tax. The top companies operating in the UK like IBM, Symantec, Oracle, Dell, Google, CSC and Microsoft are paying only £78m in tax when MP and ex-tax lawyer Charlie Elphicke reckons they should be paying £879m in Corporation Tax in the UK. [...]

The post IBM, Google, Dell, CSC, Oracle, Microsoft avoiding UK tax appeared first on Umbrella Company.

Chancellor’s strengthening of IR35 Umbrella Company boost

Gerry Mclaughlin — Wed, 12 Dec 2012 08:00:45 +0000

IR35 Umbrella Company boost Because the Chancellor has decided to strengthen IR35 Umbrella Company owners are cock-a-hoop. He has decided that Controlling Persons in the private sector should not be allowed to be contractors. He had already implemented this in the public sector. However, he needed a change in the IR35 laws to do this [...]

The post Chancellor’s strengthening of IR35 Umbrella Company boost appeared first on Umbrella Company.

Chancellor promises to Strengthen IR35

Gerry Mclaughlin — Thu, 06 Dec 2012 08:06:31 +0000

IR35 In his autumn statement yesterday, Chancellor Osborne said that he intends to strengthen IR35. He had already stated this intention in his Budget in March and he reiterated it yesterday. He hasn’t published the details of his IR35 strengthening. However, at a time when they are cutting 10,000 HMRC staff to ONLY 56,000 they [...]

The post Chancellor promises to Strengthen IR35 appeared first on Umbrella Company.

HMRC appeals Rangers Offshore Umbrella Companies win

Gerry Mclaughlin — Tue, 04 Dec 2012 17:04:53 +0000

Offshore Umbrella Companies HMRC haven’t given up easily in their tax case against Rangers Football Club. Rangers recently won their case by a 2-1 majority at the First Tier Tax Tribunal. HMRC said that Rangers use of offshore umbrella companies, i.e. Employee Benefit Trusts, were illegal. Rangers paid part of their players’ money that way [...]

The post HMRC appeals Rangers Offshore Umbrella Companies win appeared first on Umbrella Company.

Huge Umbrella Companies boost if IR35 is strengthened in Autumn Statement

Gerry Mclaughlin — Fri, 30 Nov 2012 10:18:33 +0000

Umbrella Companies boost Prior to the election in 2010 the Conservatives gave indications to the Professional Contractors Group that they sympathised with their complaints about IR35. They said that if they were elected they would’ look at it’ again. They kept their promise and set up a panel to ‘look at it’. However, the PCG [...]

The post Huge Umbrella Companies boost if IR35 is strengthened in Autumn Statement appeared first on Umbrella Company.