Many recruitment agencies and public sector parties appear to be applying pressure for contractors to jump ship from their limited company into the conglomerate of an umbrella. But are these requests in the best interests of independent professionals? Or the result of knee-jerk, risk averse reactions? We take a look at the reasons why your limited company remains the best option for you.
IR35 is easily one of the most hated pieces of legislation introduced for independent professionals. It’s long been considered a thorn in the side of contractors and consultants. With recent changes to IR35 in the public sector, many consider it a direct attack on their ability to retain profits and grow a business. But is it all doom and gloom for contractors and consultants here on out? We certainly don’t think so.
If you’ve been keeping up with the latest contractor and consultancy news you’ve probably noticed that the hot topic of conversation at the moment is IR35 and the recent public sector changes. But what exactly is IR35? This guide will look at IR35 in detail and try to clear up some of the complexities.
When we hear about Artificial Intelligence (AI) we tend to imagine the likes of Asimov, SkyNet and Westworld – robotic intelligence in humanoid form. While, sadly, most of us have yet to interact with super-smart robots or receive cybernetic enhancements – AI is becoming an increasingly real part of our day to day lives; especially in business.
Learning at Work Week is an annual event organised by the Campaign for Learning since 1999. It aims to put a spotlight on the importance and benefits of learning and development at work. This year Learning at Work Week takes place from 15th-21st May on the theme ‘Curious & Creative’. To celebrate we’ve taken a quick look at the continued learning and development of our team here at inniAccounts.
We’re multi award-winning accountants and accredited by accountancy professional bodies. inniAccounts are consistently voted Top 3 Accountant in the Contractor UK awards. We’re winners of the prestigious Queen’s Award for Enterprise, which recognises us for our successful innovations in online accountancy. We’re also accredited by an array of professional bodies, such as IPSE, ACCA and AAT, for the quality service we offer.
The current uncertainty over Britain’s Brexit deal appears to be paying dividends for contractors; especially those in the IT sector. According to the REC’s latest Report on Jobs, demand for IT contractors stands at 60.1, up from 59.1 in February. This is the highest reading on a national index since January 2016.
Our team has continued to grow and grow. This year inniHQ has been joined by many new faces and that’s not all, our team has grown in experience to help our expanding customer base. From our crack team of Account Managers and Accountants through to our Marketing wizzes and Tech geniuses – we have the best people on the case to keep inni innovative.
HMRC issues tax codes each year to reflect the personal tax-free allowance most people are entitled to. The new tax code for most people in 2017/18 is 1150L.
What is IR35? IR35 was HMRC’s (then the Inland Revenue) response to the growing number of employees leaving their permanent roles, setting up their own businesses and then returning to perform their old role as a contractor to avoid paying tax and National Insurance at the higher rates. It aims to ensure that contractors working […]