Making Tax Digital for income tax self-assessment delayed until April 2024 - FI

Making Tax Digital for income tax self-assessment delayed until April 2024

Accountant, Landlord, Making Tax Digital, Self-AssessmentLeave a comment

In a statement released on the 23rd of September (2021), the government has confirmed Making Tax Digital (MTD) for income tax self-assessment (ITSA) will be delayed by a year. In an attempt “to help those impacted by the changes” and “ for their representatives to develop their own support and guidance”, MTD for ITSA will be now be rolling out from April 2024. Keep reading, and we’ll summarise the latest announcement from the government and how it’ll impact landlords and self-employed professionals in the UK.

Umbrella Companies and Visa FAQs

Umbrella companies and visa FAQs

Umbrella Company, VisasLeave a comment

The Churchill Knight Umbrella team has recently received several queries from contractors who have moved to the UK but are unsure whether they can use an umbrella company for assignments (both inside and outside the UK). This article will answer some of the questions we have been asked about different types of visas and their restrictions concerning umbrella companies. We hope you find it helpful.

The government has unveiled a health and social care plan that’ll see a 1.25% rise in National Insurance and dividend tax

The government has unveiled a health and social care plan that’ll see a 1.25% rise in National Insurance and dividend tax

Government, Legislation, National Insurance, NewsLeave a comment

To help the country bounce back from the devastating economic impact of the coronavirus, Prime Minister Boris Johnson has announced a 1.25% rise in National Insurance to help fund health and social care. Estimated to raise up to £12 billion a year, the National Insurance rise has gone against the Conservative Party’s manifesto pledge and has been greeted with mixed feedback. However, it’s not the only pledge that will impact the country. Limited companies will also be subjected to increased share dividend tax. This article will summarise the government’s health and social care plan and how it’ll impact workers in the UK.

Banning umbrella companies would make outsourced workers "more vulnerable" says the FCSA

Banning umbrella companies would make outsourced workers “more vulnerable” says the FCSA

FCSA, Government, Umbrella CompanyLeave a comment

In a recent report in the Guardian, the Trades Union Congress (TUC) has called upon the government to ban all umbrella companies. The Freelancer and Contractor Services Association (FCSA) has described the request as a “knee jerk reaction” and has jumped to the defence of compliance-driven umbrella companies. Keep reading to discover why the FCSA believe that banning umbrella companies would leave outsourced workers “more vulnerable”.

The government introduces new measures to clamp down on promoters of tax avoidance schemes

The government introduce new measures to clamp down on promoters of tax avoidance schemes

Disguised Remuneration, Government, Legislation, Tax Avoidance, Umbrella CompanyLeave a comment

To clamp down further on promoters of tax avoidance, the government is consulting on new draft legislation. Following on from the Promoter Strategy (unveiled in Spring Budget 2020) and existing steps in the Finance Act 2021, a new series of measures will aim to protect public finances by targetting offshore promoters, UK entities and non-compliant umbrella companies. Keep reading to find out more.

The FCSA updates Codes of Compliance to make them “tougher” and “more transparent”

The FCSA updates Codes of Compliance to make them “tougher” and “more transparent”

FCSA, Umbrella CompanyLeave a comment

To further safeguard the temporary staffing sector, the Freelancer and Contractor Services Association (FCSA) has amended its Codes of Compliance. After five months of engaging with stakeholders to ensure the updated Codes are up to scratch, the FCSA confirm “no one else in the sector can give contractors or the supply chain this level of assurance”. Keep reading and find out more about the FCSA’s updated Codes of Compliance.

Using an umbrella company for the first time: 10 useful tips for contractors

Using an umbrella company for the first time: 10 useful tips for contractors

Advice, Contractor, Umbrella CompanyLeave a comment

Demand for umbrella companies has risen considerably since the government changed off-payroll working rules into the private sector earlier in the year. Many temporary workers have been faced with the prospect of using an umbrella company for the first time, and naturally, many questions have arisen. This article will provide first-time umbrella company users with helpful information so that you can go ahead and engage with an umbrella company with confidence.