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The decision by the Welsh Assembly’s to ban umbrella payroll services on its construction projects has brought dismay from the Freelancer and Contractor Services Association (FCSA). Commenting on the move, the FCSA said it was concerned that the step will work to tarnish the reputation of the many compliant and responsible umbrella companies working in the best interests of contractors and freelancers.

Working from home can be deemed a luxury to some however, the costs associated can be quickly forgotten and ultimately hit you with a surprise when certain bills drop on the doormat. Another luxury for Contractors however is that you can offset a proportion of these expenses against tax.

Essentially as a Contractor you are out in the working world by yourself and are responsible for both your level of work and income received as well as the amount of outgoings you incur. Modern day contracting can require you to travel to your clients and places of work from time to time and these occasional (or sometimes more regular) trips can add up.

Last week we saw the Chancellor George Osborne deliver the Autumn Statement of 2014, declaring some key changes such as the stamp duty thresholds and various rates such as Personal Allowance and ISA Limits increasing.

Barry Vaughan: "Churchill Knight made it very simple to get my Limited Company set up. When I have any concerns they help me to understand and clear up any misunderstandings quickly."

During the delivery of his statement, George Osborne proudly declared the ongoing decrease of unemployment, directly referring to the increase of the self-employed population now equalling almost 15% of the UK’s entire workforce. Despite this, the 2014 statement had a very small amount of implications for this expanding sector of the workforce. We have listed a handful of the points taken from the statement that could affect you a contractor within the upcoming year;

The Chancellor George Osborne delivered his final Autumn Statement of this Parliament amid ongoing economic uncertainty. The key indicators paint an unclear picture. The UK economy is now expected to grow faster in 2014 than any other developed economy including the Eurozone.

Following his presentation at Recruitment Live, in which he described the changing world of work and the corresponding challenges for recruiters, he outlined the importance of choosing a good platform from which to work from a technology point of view, but was keen to emphasise the need to ensure recruiters had the necessary skills to match candidates to clients successfully.

To give a little back, HMRC allows a tax exemption to Limited Companies for each employee up to the cost of £150 towards the expense of attending an annual work event or events. This applies to all Limited Companies - small or large.

Further to publication of the Onshore Intermediaries Legislation and proposed reporting requirements in early 2014, there appears to be possible confusion amongst some of the Recruitment community with regards to the risks associated with their workers using PSC’s (Limited Companies) as their payment supply models.