As per Autumn Statement, umbrella employees will no longer be able to claim T&S expenses in next tax year. Is there anything else you guys expect to claim, with the new law in place? I can't think of anything significant I could lawfully claim on a regular basis.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Umbrella and expenses in tax year 2016/2017
Collapse
X
-
-
-
Comment
-
Interesting related article on this site today penned by Marc Scott, director of umbrella company Liberty Bishop.
Why it's all change for umbrella companies (and umbrella contractors) from April :: Contractor UK
For virtually all umbrella workers it looks like ALL expenses are now doomed after April 5th.
Further, if it can be proved that expenses are due (difficult, pain-in-the-ass for all involved), they can only be claimed 'en-mass' at the END of the tax year via a tax return .. most people who complete a tax return submit one online in the last week of January.
The comfortable model of working via an umbrella being paid weekly; claiming travel, accommodation and other expenses applied weekly is history.
I suspect that most of those who choose to work through an umbrella will simply 'forget about expenses-too much hassle', instead they'll only be looking for contracts 'near' to home.Comment
-
Originally posted by SunnyInHades View PostI suspect that most of those who choose to work through an umbrella will simply 'forget about expenses-too much hassle', instead they'll only be looking for contracts 'near' to home.
A lottery win would really simplify things...Comment
-
Originally posted by SunnyInHades View PostInteresting related article on this site today penned by Marc Scott, director of umbrella company Liberty Bishop.
Why it's all change for umbrella companies (and umbrella contractors) from April :: Contractor UK
For virtually all umbrella workers it looks like ALL expenses are now doomed after April 5th.
Further, if it can be proved that expenses are due (difficult, pain-in-the-ass for all involved), they can only be claimed 'en-mass' at the END of the tax year via a tax return .. most people who complete a tax return submit one online in the last week of January.
The comfortable model of working via an umbrella being paid weekly; claiming travel, accommodation and other expenses applied weekly is history.
I suspect that most of those who choose to work through an umbrella will simply 'forget about expenses-too much hassle', instead they'll only be looking for contracts 'near' to home.Comment
-
Originally posted by SunnyInHades View PostInteresting related article on this site today penned by Marc Scott, director of umbrella company Liberty Bishop.
Why it's all change for umbrella companies (and umbrella contractors) from April :: Contractor UK
For virtually all umbrella workers it looks like ALL expenses are now doomed after April 5th.
Further, if it can be proved that expenses are due (difficult, pain-in-the-ass for all involved), they can only be claimed 'en-mass' at the END of the tax year via a tax return .. most people who complete a tax return submit one online in the last week of January.
The comfortable model of working via an umbrella being paid weekly; claiming travel, accommodation and other expenses applied weekly is history.
I suspect that most of those who choose to work through an umbrella will simply 'forget about expenses-too much hassle', instead they'll only be looking for contracts 'near' to home.
However, it does make the comparison closer.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
-
Long term contractor myself on this GIG I have been using Umbrella, but I cant afford to take the expenses hit come April 6th, its to much for me to lose, I commute 108 miles a day (I choose to do it I know) but its been a good gig and the 4th time I have worked for this bank. But I am done, its only work locally from now April, or go Ltd yet again. Its a pity the next project we will be working on would be good to get on the CV. Ahhh well bench will be nice in the spring and summer.Comment
-
Originally posted by Yonmons View PostLong term contractor myself on this GIG I have been using Umbrella, but I cant afford to take the expenses hit come April 6th, its to much for me to lose, I commute 108 miles a day (I choose to do it I know) but its been a good gig and the 4th time I have worked for this bank. But I am done, its only work locally from now April, or go Ltd yet again. Its a pity the next project we will be working on would be good to get on the CV. Ahhh well bench will be nice in the spring and summer.Comment
-
Originally posted by BenDover View PostUnemployment benefit! If I cannot claim for travel then I cannot afford to work.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- HMRC warns IT consultants and others of 12 ‘payroll entities’ Yesterday 09:15
- How you think you look on LinkedIn vs what recruiters see Dec 2 09:00
- Reports of umbrella companies’ death are greatly exaggerated Nov 28 10:11
- A new hiring fraud hinges on a limited company, a passport and ‘Ade’ Nov 27 09:21
- Is an unpaid umbrella company required to pay contractors? Nov 26 09:28
- The truth of umbrella company regulation is being misconstrued Nov 25 09:23
- Labour’s plan to regulate umbrella companies: a closer look Nov 21 09:24
- When HMRC misses an FTT deadline but still wins another CJRS case Nov 20 09:20
- How 15% employer NICs will sting the umbrella company market Nov 19 09:16
- Contracting Awards 2024 hails 19 firms as best of the best Nov 18 09:13
Comment