The annual Budget Speech was delivered by George Osborne on the 23rd of March, some of these changes will adversely affect Independent Contractors from the 6th April.

What to expect

• Employees’ NI contribution rises to 12% (from 11%)
• Personal Tax Free Allowance for income tax (PAYE) rises from £6475 to £7475

No matter how you look at it, the budget changes will have a 1% negative effect on your net take home pay.

How can 1st Contact Umbrella help?

As a contractor, you are able to mitigate the negative effects on your earnings by using a reliable Umbrella product, thereby increasing your net take home pay.

We have a suite of products from which to choose based on your unique situation.  Our qualified consultants are available for a free consultation and to give you the best possible advice on how to ensure your take home pay is the highest it can be, taking all recent tax-related changes into account.

Why 1st Contact Umbrella?

Since 1996, over 100 000 contractors have enjoyed:

• Free consultations with dedicated consultants
• A simple fee structure with no hidden costs
• Claiming for business expenses through our extensive expense policy
• All administration handled on their behalf
• Prompt and efficient payments processed daily
• Quick service
• Professional, Public and Employer’s Indemnity Insurance at no extra cost
• Full statutory employment right, including maternity, paternity, sick pay and holiday pay

Chancellor George Osborne’s budget speech yesterday was centred on his four economic visions, namely that Britain: Continue Reading

In his Budget statement on 24 March 2010, the then Labour Chancellor Alistair Darling, confirmed that The Employee National Insurance (EENI) contribution will increase by 1% from 11% to 12% for individuals earning between £7,225 and £42,475. Continue Reading

Do you have a pressing question you think our experts may be able to help with?

Submit your questions here and it may be featured in the next issue of 1st Contact eNews.

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HMRC has issued new rules for the correct tax coding for termination payments, to come into effect from 6 April 2011. Under the current rules, if a termination of employment payment is made to an employee after the P45 form has been issued to the employee and the payment in question is more than £30 000, any amount over £30 000 will be taxed. The taxation amount is 20% and the code “BR” (for basic rate). The employer is required to withhold 20% of the amount over £30 000, and the former employee is responsible for any further tax that may be payable. Continue Reading

A Tier 1 Tribunal has recently ruled in favour of independent contractor Mark Fitzpatrick, bringing to an end the seven-year dispute between Mr Fitzpatrick and HMRC. Continue Reading

Independent Contractors enjoy the luxury of working for themselves and depending on their contracts, are sometimes able to set their own fees, working hours holidays and conditions. But the independent lifestyle does come with some responsibilities and risks which, if not managed properly, could lead to serious legal and financial issues.

In this article, we look at the importance of medical insurance and offer advice for partnering with the right insurer from the start.

Why Private Medical Insurance?

As a contractor you have the opportunity to increase your earning capacity. The downside to this is that when you are hurt or ill, your earning grinds to a halt – every day that you aren’t working is a day’s income lost to you.

Instead of enduring costly delays caused by NHS waiting lists, rather look to a reliable, quality private medical insurance company. An affordable monthly fee will allow you to leapfrog waiting lists, ensuring that you receive the very best, most comfortable treatment and get back to work with the least amount of delay possible – essentially saving you money in the long run.

How to Choose Your Insurer

It’s vital that you find the right insurer from the start so that you avoid any future problems. Choose a reputable company with a longstanding record and offering the most benefits to you.

Look out for the following:

• Has the company been in business for more than 10 years?
• Is it a not-for-profit company? This usually means the emphasis is on keeping customers happy – not shareholders.
• Is treatment limited to a handful of Doctors and hospitals or can you be treated where you want to be treated?
• Is there a compulsory excess charge?
• Is there a maximum annual cover limit?
• Is there a maximum age limit?
• Are there penalties for claiming?

Asking all the right questions upfront will ensure that you are not disappointed when the time comes to take advantage of your cover.

1st Contact’s Choice in Private Medical Insurance

1st Contact has team up with Western Provident Association (WPA), a leading not-for-profit UK Health Insurer, to offer preferential rates and excellent service to its contractors.

WPA offers a full range of both Private Medical Insurance and Cash and Dental plan policies, ranging from the basic ‘Essentials’  offering to ‘Premier’ and ‘Elite’ plans.

Their heritage spans more than 100 years and they have a solid reputation for reliable and highly efficient service. Some of the many benefits include 24/7 online claims processing, no penalties for claiming; no age limit, no annual cover limit and no compulsory excess. WPA insurance covers all UK hospitals and consultants and pay them directly, on your behalf. Another great benefit is that WPA normally give a 20% discount, but as a 1st Contact contractor you could enjoy an additional 10% discount and save even further.

Don’t Delay – Secure Your Income

A small monthly outlay could make a huge difference later on down the line. So don’t delay this essential insurance for independent contractors.

Visit http://www.1stcontact.com/financial-services/private-medical-insurance.aspx or call 020 3384 3805 for more information or medical insurance advice.

by Nikki van Coller

So you feel like you’re stuck in a dead end job and you’d rather nibble the varnish off your entire dining room table than spend another year doing what you’re doing? You’re not alone!

Millions feel the way you do and a percentage of them will manage to escape their dreary existence and find a job or career opportunity that truly fulfils them.

1^st Contact Job Assistance suggests these 7 steps if you too want to be fulfilled and get the job you really want.

1. Develop the Right Attitude

The first step is to choose to be fully committed to the task of getting yourself out of the rut you’re in and creating the future you want and deserve. The right attitude from the start means you are willing to do the work required – the research, planning and execution…. It means being completely truthful and dedicated. It means being prepared to endure the ups and downs that go along with making a drastic change. It won’t be easy, but if this is something you really want to do, why wait another year?

2. Get to Know You

The second step is to get to know yourself better, so that you understand exactly what it is you’re looking for. Until you know what you really want, you can’t ask for it, and you can’t take the steps needed to get it.

There are a number of questions you can ask yourself. Really dig deep and take some time with this one. This is a process and going through the process could lead to a single epiphany or weeks of further unravelling to discover your true ambition.

a. What Are You Good At?

Make a list of everything you are or have ever been good at – the things you do well in your current job, as well as the things you do well in your everyday life. What do friends ask you for help with? How do you express your creativity and imagination in your home, garden, kitchen or social circle? Once you get going, you might be surprised at how long the list actually becomes. Next, make a list of the industries you’ve been involved in; and the functions you’ve performed in each job. You know have a good idea of what you have to offer.

b. What do you enjoy?

What are the things that make you truly happy? Figure out the situations, activities or people that bring you joy or have brought you joy in the past. Ask yourself: “What would I be doing in an ideal world?”… “If I could have anybody’s job, whose job would I want?” … “If I could go back and start my career again, what would I do?”… “What am I passionate about?”… By answering these questions, you are finding your bliss.

c. What do you NOT want?

Now that you’ve spent some time uncovering a bit more about what you’re good at, what you’ve done and what you actually enjoy doing, make a list of what you don’t want. If working in a big corporation goes against every fibre of your being, acknowledge it. By doing so, you are saying “no” to that particular situation and inviting different situations in instead.

d. What DO you want?

You might be very clear about what you want. If you’re still trying to figure it out, the exercises above might’ve helped bring you a little step closer. Be open to signs and notice your own reactions to different stimuli. By being aware every day of the process you’re going through, you are inviting opportunities into your life. By understanding who you are and what you aspire to, you are inviting the right opportunities.

You should now start to form images in your mind of plenty of possible scenarios for you, where what you have to offer is aligned to your bliss! Jot these down somewhere visible and don’t censor or judge your list – it’s just a list!

Examples:

Let’s say you’ve been a PA to a Financial Director for as long as can remember and you are about as bored and uninspired as a person can be… and let’s say music is one of your biggest passions – you could for instance work as a PA at a music label or put your organisational skills to good use by joining an Events Company.

Or let’s say you’re a nurse and you love helping people, but you hate the hours and you’d really like to earn more money… and let’s say your biggest passion, the thing you love the most – is anything to do with movies and the movie business… you could for instance become an independent consultant and get paid really good money to advise and consult with writers of medical movies and TV programmes.

Every single problem has a solution and in most cases, many possible solutions! Flood your mind with possibilities and write each one down without judging it or dismissing it for being too big or seemingly unrealistic. Your reaction to different ideas might change from day to day –notice how your mind and your body react and make mental notes of what you are most drawn towards.

3. Do your homework

Once you have a few real ideas about the kind of job you could be doing, do some investigation into the feasibility of the main contenders. Check job boards; visit forums where people doing the job you want, are chatting about the things that interest you; speak to friends and family and people whose opinions you respect. Don’t make assumptions and don’t judge anything yet… Just look, listen and learn. The more knowledge you gather, the better you are equipping yourself to make a decision.

4. Be Alert

At the same time, be alert to signs and opportunities. Notice which visions become clearer and which fade. Be aware of what’s going on both around you and within you. Which people are suddenly finding their way back into your life; which words are you hearing more often; how else are things shifting and in which direction…? Stay open to all possibilities. And if you start to feel demotivated, refer back to step 1!

5. Take action

If you have followed all the steps outlined above and signs are flying in fast and furiously, there will come a time when an action or series of actions is required on your part. This might involve saying yes to a social engagement because someone influential in your dream industry is going to be there; or sending a killer email off for a position you see advertised, even though it’s the day after the closing date – just in case something comes of it.

If the signs are there and you recognise that you have a window of opportunity and everything about it feels right, do what needs to be done to make it happen. Start by using all the information you’ve acquired during this process and have your CV updated to be the [best CV you can put out there!] (Link to 1C Job Assist) Ask questions, make phone calls, read, explore, act!

If you put your honest intention and energy into this process, things will start to happen and every positive step you take will cause effects that put you further along the path you should be on.

Keep in mind:

Timing is key –

When the Universe hands you an opportunity, you have the choice to grab it and go for it; or let fear and hesitation and procrastination hold you back. In the case of the latter, your window of opportunity will eventually close and a new plan will have to be conspired for you and delivered at a later stage.

Follow your instincts –

If it feels right, it’s right. If something tells you it’s wrong, it’s most likely not right for you. Be present and honest and your instincts will reveal themselves more clearly.

Don’t let setbacks get you down –

Even once you know what you want and all the signs are pointing in that direction, things won’t always go according to plan. But if you are in your truth and your instincts are telling you you’re on the right path, then don’t let obstacles stop you.

By this time next year, you could be in your dream job, living a life that makes you far happier than you are now. Today could be the day you set a plan in motion that makes you able to shout out “I love my job!”

1^st Contact Job Assistance would love to help you realise your goals with professional CV assistance, applying to the right jobs on your behalf and all sorts of career advice. Visit http://www.1stcontact.jobs or call 0844 880 1816.

Thinking of relocating?

Visit www.1stcontactvisas.com for visa and immigration services and advice.

Independent Contractor? Get your ducks in a row for the coming year and allow your business to thrive! Whether you’re new to contracting or have a long and lucrative career behind you already, it always pays to ensure you are on top of your game. Deon Smit, Payroll Manager at 1^st Contact Umbrella, highlights 4 areas which – if managed properly – can greatly improve your chances of success as an independent contractor. Continue Reading

If English is the only language you speak fluently, perhaps you should consider using the winter months to learn a second language? You might think there’s no need if English is your home language since English is “universal”, but the truth is, having a second or even third language under your belt can help you in more ways than you think!

1. Improve Your Job Prospects

The most obvious reason for taking a language course is that fluency in a second language looks really good on your CV, which means that when you apply for a job, you are already a step ahead of your monolingual counterparts. There are also many opportunities in the UK for people who are fluent in English and another European language – do some research in your industry and see where the opportunities exist for you.

2. Increase Your Study Opportunities

Not only will fluency in another language make it possible for you to apply for bursaries and study in another country, you will also have a better chance of being accepted into a college or university in the UK if you are fluent in a second language.

3. Enjoy Foreign Travel More

If for instance you chose to learn Spanish, there would be at least 21 more places in the world where you wouldn’t need to page through a confusing little language book just to ask what time the train will be arriving (and in all likelihood end up politely telling the conductor that his mother is a man). The locals will be friendlier towards you and your chances of being ripped off decrease when you understand and speak the language… Order beer with confidence; direct your cab driver directly to your hotel; and the next time a local in a little café says something about your lack of a tan, you can confidently remind him – in his own language – that Michael Jackson paid millions of Dollars to get your skin tone.

4. Enhance Your Appreciation of Foreign Culture

Never again will you sit silently at the dinner table while your girlfriend’s parents discuss the intricacies of La Traviata. When you learn a second language, you will develop an understanding of the music, food, art and people of the country/ies whose language you master. Italian Opera; French Cuisine or Literature; Akido or Capoeira – whatever it is you’re interested in, you can delve much deeper if you are approaching the subject in the language though which it was created.

5. Take Your Business Abroad

Whatever your business, there might be an untapped market in another country that you haven’t even considered because it seems impossible. By first learning to speak, read and write the language like a native, you’re in a position to investigate your global options. Your Spanish Language Course might just be the start to your “half the year in London / half the year in Majorca” dream!

6. Increase Your Chances of l’ amour

If you’re still single and your cousin’s wife’s best friend’s weird brother is looking like your last hope, broaden your pool of prospects by learning the language of a country whose natives you find attractive. If the French make your knees weak – learn the language, take the holiday, converse with ease… the rest is history.

7. Understand the World Better

By learning another language, along with the country’s history, culture and traditions, you are not only improving your general knowledge, but also your understanding of another nation of people. This will no doubt lead to a more open minded approach to the world around you and you’ll start to enjoy more positive interactions with people from a cultural background different to your own.

8. Improve Your English

Learning a second language will teach you different methods of expressing ideas, concepts, or thoughts, which will actually improve your English communication skills and vocabulary too.  As you learn the new language, you will no doubt be brushing up on your English theory – the verbs, the pronouns, the conjunctive adverbs – you’ll be reminded about all of that.

9. Become Smarter

Learning another language exercises all sorts of cognitive skills and studies have shown that bilingual students achieve better divergent thinking, creativity, and cognitive development compared to monolingual students and that those who speak a second language do better on both nonverbal and verbal intelligence tests. Who doesn’t want to be more intelligent?

10. Be Sexier

There’s no doubt about it – people who speak a foreign language are considered more attractive and more intelligent by the opposite sex than those who only speak English. It’s impressive. It’s enviable. It’s dead sexy.