Since our last update, we have seen one of the most significant changes in legislation to affect our sector since the introduction of the MSC regulations in 2007. As contractors are now aware, on the 6th of April new rules on Travel and Subsistence (T&S) were introduced, restricting a worker's ability to get tax relief on his/her travel and subsistence costs unless it can be shown that the worker is not under the supervision, direction or control (SDC) of either the client, agency or PayStream in the way he/she carries out their work.
PayStream prepared for the T&S changes well in advance. Our systems, processes and services were ready before the legislation was introduced meaning that we have been quoting and joining contractors in the service that is most appropriate for their circumstances for some time to ensure that we have been clear and transparent with our customers.
As well as giving an update on all the benefits that can still be enjoyed with our umbrella service, this month's edition of News Stream also looks at important upcoming dates for our limited company contractors including the personal tax returns deadline and the autumn budget.
We also have some exclusive mortgage deals that have been created specifically for contractors and are only available to our contractors via our in-house IFAs 'Haven', so if you want to take advantage of these exclusive deals, please keep reading.