Whichever party enters Downing Street on the morning of May 8th, changes will be made by the new government that will affect contract workers. For some, a Conservative government will mark a welcome continuation of the status quo. For others, the next five years need a fresh approach, with Labour hoping to step in and assume that role. And the Liberal Democrat’s will bring in new policies if they can overcome their dip in form.
With less than a month to go, many within the recruitment industry are eagerly awaiting the outcome of what promises to be one of the most hotly contested general elections in recent memory. At the time of writing, the latest polls put Labour slightly ahead of the Tories in the race for Number 10, but neither party looks likely to gain an overall majority.
With the onset of the new 2015/16 tax year, the government is offering qualifying couples the opportunity to share part of their annual Income Tax Personal Allowance. This move follows Prime Minister, David Cameron, describing married couples as “the bedrock of our society”.
The 2015/16 tax year has begun and with this comes changes to the tax system within the UK. Churchill Knight’s Personal Tax team have identified the key points, and explain how these could affect you as a contractor.
Like many embarking on a career in contracting, you will probably find yourself wondering what is the best way to set up and run your new business. For most contractors this choice essentially comes down to operating under an umbrella company, or establishing and running your own limited company.
Much has been said about the Onshore Employment Intermediaries legislation and how it will affect recruitment agencies from the 6th April.