Cameron’s plans for Europe could be best for contractors
Although many contractors were optimistic about their futures during the election, when all the major parties were pledging measures which were designed to benefit independent professionals, some now feel that David Cameron’s government have failed to follow through on their promises.
However, this doesn’t necessarily meant that those who work for themselves should reject all the Conservative Party’s policies, specifically their position when it comes to the EU referendum which will take place at the end of June.
A poll conducted amongst IT contractors has revealed that many are willing to put aside their differences with Cameron’s government when it comes to the possibility of a Brexit. While only 17 per cent of those polled believe that David Cameron is on their side when it comes to offering a better deal for independent professionals, 44 per cent are intending to vote to remain in the EU, compared to only 20 per cent who are planning to vote in favour of a Brexit.
Chris Futcher, Chief Executive of Pulse Umbrella Group who conducted the poll, was not surprised to learn that IT contractors don’t feel as though the government is offering enough support to those who work for themselves.
He believes that frequent policy changes and the fact that the rules laid down by HM Revenue and Customs are being changed in ways that significantly disadvantage contractors shows a lack of consideration for the flexible workforce.
These include the changes to the way travel and subsistence expenses are claimed, changes to the way dividends are taxed, the removal of Entrepreneur’s Relief on CGT for those liquidating a company and the upcoming reforms to the ever-controversial IR35 legislation.
However, the addition of red tape and the failure to acknowledge the importance of contractor’s contributions to the economy are not good enough reasons to vote against the government in the June referendum, which may come as a relief to David Cameron and his cabinet.
If you are an IT contractor and want to know more about the implications of the upcoming changes to IR35 and contractor expenses then having an expert on hand to ensure that your finances are managed effectively enough to withstand any policy changes is the best way to make a success of your business.
If you want support, advice and expertise from a team of accountants who have decades of experience, our specially designed packages are designed to ensure that you have all the help you need, so call today on 01442 275789 or email firstname.lastname@example.org.