Government to offer empty premises to contractors and startups
David Cameron last month announced plans to free up 300 premises for new businesses and entrepreneurs. The under-used or empty government owned office premises and buildings will be offered to startups at a low cost for one year to enable new companies to establish themselves.
Contractor Accountant arrested for £500,000 tax fraud
Darren Upton, a well-respected and successful accountant in the IT sector, has been found guilty of fraud after it was revealed that he had taken £250,000 that had been put aside by his contractor clients for tax bills and paid it into his own account.
IT contractor involved in first ever IR35 split decision
A contractor has been given an extraordinary verdict of being both outside and inside IR35 at one single workplace. John Spencer had been working through his limited company JLJ, supplying services to a firm called Allianz for seven years when he came under fire from HMRC, despite a 17 year history trading as a freelance...
Project Merlin banks claim to be on target for lending figures
British banks have announced that they are on target to meet lending figures that were set out by the government in Project Merlin. However, small business leaders have disputed the announcement claiming that loans are becoming harder to find and much more expensive.
Contractors and SMEs welcome EU-wide sales law
Contractors and small business have welcomed the news that the EU is proposing an optional EU-wide sales law after results from a survey carried out by the Federation of Small Businesses (FSB) has shown that 43% of small firms use the internet to trade across the border but that legal obligations and sales disputes are...
Government to contribute £95m to small businesses via banks
David Cameron has set out plans to contribute an extra £95m to help contractors and SMEs. The money will come from the Regional Growth Fund and will be filtered out through RBS NatWest and HSBC, leading to the potential unlocking of £500m.
Health and safety laws to be overhauled
As the government plans to cut health and safety laws, business groups anticipate that small businesses will benefit from significant savings as a result.
Late payments to small businesses worse than ever
According to research carried out by payment body Bacs, UK small businesses are owed £33.6 billion in overdue payments, a 10% increase on this time last year and an overall record. The survey, which was carried out on 450 businesses, found that the average amount owed is approximately £39,000 and that firms were being forced...
Osborne announces credit-easing programme for small businesses
The Chancellor of the Exchequer, George Osborne, last week announced a credit-easing programme for small businesses and ruled out much sought-after tax cuts during his speech to the Conservative Party Conference.
Demand for contractors set to soar as unemployment figures rise
The Office for National Statistics has recently published figures which show that 80,000 more people were made unemployed in the three month period before July 2011, taking the total number of jobless to a shocking 2.51 million.
As BN66 appeal is rejected contractors face paying backdated tax
Following a recent ruling by the Court of Appeal, contractors who have been using offshore account schemes offered by Isle of Man provider Montpelier Tax Consultants may face backdated taxation by HMRC under the BN66 rule.
IT Contractor victorious in IR35 battle
An IT contractor who has spent eight years battling with Her Majesty’s Revenue & Customs over IR35 claims has emerged victorious after the case was dismissed at the first tier tax tribunal.
