Financial

The umbrella company market has become very competitive in the last few years. Unfortunately there are very few barriers to entry and with most promotion being online it is increasingly difficult for contractors to differentiate between the good, the bad and the ugly writes Adrian Learer.

The Start-Up Loans Company, chaired by former BBC Dragon James Caan, has announced that it has been given the green light to open their doors to budding entrepreneurs of all ages. The scheme, which was previously targeted at 18-30 year olds, will soon be available to anyone, regardless of age.

This Wednesday George Osborne, Chancellor of the Exchequer and Second Lord of the Treasury will once again stand before Parliament and the country to outline his big ideas for the economy.

According to research carried out by YouGov on behalf of online accounting provider FreeAgent, only one in four small business owners claim back all of the expenses they incur personally for their business.

Amendments to the IR35 tax regime include too much room for error, the Association of Recruitment Consultancies has said, and could end up bringing many more freelance contractors within reach of the system.

January saw the Government’s announcement that everyone retiring from 2017 will get the same £144 a week pension. This replaces the current, confusing system of a basic pension and additional money from earnings-related top-ups.

The typical freelancer now has earnings worth more than twice the level of the national average wage, new research claims. Outsourcing firm MarketStorm Global said the average freelancer was now earning £52,280 a year, compared to an annual salary of just over £26,000 for the typical full-time worker.

Economic volatility has boosted hiring of freelancers, new research shows, with many organisations opting to hire temporary contractors rather than commit to making permanent appointments.