HALE, England, March 23, 2011 /PRNewswire/ -- The controversial IR35 tax rules affecting contractors could be reformed following a report on small business tax commissioned by the chancellor.
This legislation, which affects contractors, was brought in by the previous government as a way of tackling tax avoidance and has an effect on the take-home pay of contractors.
The report has put forward three proposals about IR35: suspend it altogether with a view to eventual abolition, leave it in place but improve the way it is administrated by HM Revenue and Customs or introduce a new 'business test' which would dramatically decrease the number of workers covered by the rules.
Umbrella companies such as Pulse Umbrella (http://www.pulseumbrella.com/) offer you the freedom of working as a contractor without the hassle of administration and the risk of running your own business. They deal with all the taxation and paperwork and are fully IR35 compliant so you never risk an unexpected tax bill.
Working out your take-home pay can be tricky but Pulse Umbrella make it easy for you with their contractor calculator ( http://www.pulseumbrella.com/paye-calculator.aspx). This shows you your net pay and takes into account all tax, travel and subsistence expenses so you know exactly how much your take-home pay will be.
If you're a contractor umbrella companies like Pulse Umbrella offer you a service where you become an employee of the company and they pay you a salary, provide you with full employment rights and help you with claiming expenses.This offers you the freedom of being self employed without having to deal with all the additional responsibilities that comes with it, and is an ideal solution for many contractors.
Contact: Tel: +44(0)845-3055-405, firstname.lastname@example.org
SOURCE Pulse Umbrella