April is only around the corner and with it comes the 50% higher tax rate. Accountants are reporting a booming business in clients contacting them to ask advice on how to avoid this increased tax rate.

Jenrick IT has experienced an increase in contractors queries regarding where to get the best tax advice, especially if they are operating under a PAYE or Umbrella scheme.

We have taken advice from a number of accountants and collated the best information we could source, three of which have been highlighted below from JK Tax Advisors, 1st Option Accountancy and ICS: (more…)

It would appear that the HMRC are making good on their commitment to chase off-shore schemes. A recent high court case has been lost by a  contractor who was utilising such schemes and has sent shock waves  through the industry.

Philip Fanthom (Managing Director - Jenrick IT) commented ;

“We are  constantly updating our tax and legislative information on our website and blog to keep contractors informed. We did, in fact warn about the possibility of a HMRC clampdown on ‘off shoring’. Even still, there appears to be a  worrying agenda against  the freelance community by the government. “

(More details about the case is below - courtesy of Contracting Made Easy) (more…)

In part 3 of our Contractor Advice series we have invited Marc Morris, of 1st Option Accountants, to return and give another interview, this time focusing on the tax benefits of being a limited company contractor.

Before you read Marc’s full article, feel free to watch ther video below:

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With the demographics of the working population changing in the UK*, the government is launching a set of proposals to protect the rights of older workers.

* By 2031 there will be 15 million pensioners even though the pension age will have increased to 66 for men and women after 2024. In comparison, the numbers of children will rise from 11.5 million to 13 million in 2031. Currently the average age of the population is 39.6 and this will reach 40.6 by 2016 and 42.6 by 2031 - (Source: Office of National Statistics) (more…)

With the election looming the Government are keen to secure votes from the various sides of the voting communities. One of which is, of course, parents. With the in mind the latest plans unveiled by Pat McFadden (Business Minister) is to improve the flexibility of the maternity and paternity schemes.

Details were posted in this weeks political monitor from APSCo….

Legislation to give parents more flexibility in how they use maternity and paternity leave will be introduced under new Government plans. (more…)

February has continued in the same vein as January with an extraordinary increase in demand for IT contractors, together with steady growth in demand for permanent IT expertise, according to Philip Fanthom, Managing Director of Jenrick IT (specialist IT recruitment company) -

“Demand for IT experts is increasing. With more and more projects coming out of hibernation as company’s look to re-ignite their innovation strategy, contract requests have increased at a rate not seen by us for over 3 years.

In addition, we are seeing the emergence of permanent requests as these innovation strategies become more long term”

(more…)