A source has told The Freelance Informer how some umbrella companies could still be systematically withholding and pocketing holiday pay from contractors and temp workers, potentially affecting thousands, especially supply teachers. However, if existing and former umbrella workers claim unused holiday pay they could be quids in by Christmas, said the source. How the Scheme […]

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Freelancers face potentially devastating tax bills due to complex “Managed Service Company” rules HMRC has issued a stark warning to freelancers, contractors, and consultants about the dangers of “Managed Service Companies” (MSCs). These complex tax arrangements could leave unsuspecting independent workers facing unexpected tax bills reaching tens of thousands of pounds. MSCs, often promoted by […]

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The recent hike in employers’ national insurance tax has sent ripples through the contracting world, leaving many unsure of whether to celebrate or brace for impact. While some contractors may find themselves with unexpected benefits, others could be facing a hefty financial blow. But the implications go even deeper than individual wallets. This tax change […]

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Anyone who is self-employed in the UK should be preparing for increased national insurance rates, possibly at the same rate as employed taxpayers, according to Mark Collins, Head of Tax at Handelsbanken Wealth Management. According to a report in the Express, the tax specialist said increasing certain tax rates could be on the cards for […]

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Chancellor Rishi Sunak is considering increasing the amount of national insurance self-employed workers pay to be aligned or equalised with employed staff, it has been reported. Treasury sources told news service, i that Chancellor Sunak “is minded” to level up the National Insurance system to “create a level playing field”. Any decisions or official announcements may be […]

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