The Gabem Umbrella Companies Blog:
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25th September 2008: The Governments Consultation on "Tax relief for travel expenses: temporary workers and overarching contracts"
Today we have some new information on the Governments Consultation on "Tax relief for travel expenses: temporary workers and overarching contracts", as well as some Gabem specific news about the personal accident insurance.
On Monday Trudy, along with a number of other people representing businesses from across the industry (Umbrella Company providers and Agencies), attended a meeting to agree a consolidated response to the Governments Consultation on "Tax relief for travel expenses: temporary workers and overarching contracts" (if you would like to know more about it, Steve posted a very informative page to the site a couple of weeks ago that you can read here). All replies and comments with regard to the consultation have to be submitted by October 13th.
The meeting was very positive and there was strong consensus that Umbrella companies provide not only vital benefits to you - free agents (temporary workers, contractors and freelancers) - by reducing your administration and enabling you to claim legitimate work related expenses but also the government in ensuring contractors work within legally compliant umbrella company structures from which they receive the correct tax revenue. All agreed that without Umbrella Companies there would be a drop in tax revenue as many contractors and free agents are pushed underground. As soon as I see the official response I'll be sure to put as much of it on here as I am able to keep you apprised of the situation.
On Friday we will be sending out information about an increase in the cost of our personal accident insurance cover. The new prices are £2.50 (which was previously £2.00) per week for the normal personal accident and an additional £1.25 (previously £1.00) per week for the 24 hour personal accident insurance (so if you were to opt for both the total cost would be £3.75 per week). This is the first increase we've had to pass on in 5 years. Unfortunately, as you are no doubt aware, the cost of financial products has increased significantly in the last 12 months but we are delighted that this is still a great deal for you as most private accident policies charge upwards of £5.75 per week.
As has always been the case if you already have your own Personal accident policy with cover equivalent to the one we provide, you can opt out by supplying us with your policy number, certificate and details in writing.
Hugo
25/09/2008
