There’s no doubt about it, the wholesale contractor accountancy marketplace is big business and everyone wants a piece of the action.

Contractor accountants and accountancy firms are not yet prepared for the new online filing system for corporation tax returns that HMRC is introducing next year.

Contractor accountants can pass on this welcome news for freelancers and sole traders from Mark Prisk, the small business minister. In a recent interview he said that the comprehensive review the coalition is going to undertake of business taxation will seek to replace IR35 with a long-term alternative.

So where was I…? Back refreshed from two weeks of idleness in the sun, and already looking for the next contract. Don’t seem to have missed anything too serious while I was away.

The CIoT is warning that the new Capital Gains Tax system is going to be more complex than a lot of people think.

Banks and financial institutions operating in the UK that hold £20bn or more in assets will need to pay a levy from the beginning of 2011.

Ambition, the international finance and accounting recruiter, believes that contractor accountants and finance staff working in the public sector will be badly hit by cuts in public spending.

Contractors who have been taking advantage of HMRC’s seven day grace period need to be aware that the concession is being axed as from March 31, 2011.

The plight of contractors, freelancers and temporary workers has once again come under the spotlight this week following the launch of the REC’s Agency Workers Directive (AWD) Toolkit.

UK individuals, including limited company contractors, appear to be committing less tax offences than in previous years according to law firm McGrigors.

Contractor accountants might be interested in the opinion that an increase in CGT will have an adverse effect on the buy-to-let market. This was suggested by the chairman of the Residential Landlords Association, Alan Ward.

The proposed cuts in corporation tax could be staggered over the next five years suggests Lord Sassoon, the commercial secretary to the Treasury.