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Charterhouse Group Announces 78 Redundancies


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" .... and they do not affect the UK back office processing business at Ramsey"


If the news announcement is correct why is Ramsey worried (other than crapping its pants because its had all its eggs in one basket for far too long and redundancies might spread). Its says jobs in ramsey are unaffected.


I must admit I think Anne Craine is great, but I heard her on MR saying that its terrible news for Ramsey and that many people could be forced to re-locate. Relocate? Its the Isle of Man. Spend 20 minutes driving to Douglas might have been a more accurate statement.

Edited by Juan Kerr
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Say what you want about charterhouse but aleast they did something for Ramsey.


Far more than the government or any other company, they actually seen that ramsey is a good place to be and they have gave a lot of people jobs.


Its a shame but i guess the once great finance industry on the island is slowly changing.


Add up the ammount of job loses that have taken place over the last 3 years and there as been over a 1000 i would say easy.


Charterhouse is a victim of its own success, someone told me that quite a few people who worked there set up in competition. :(

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This doesn't look too good for IOM service providers - don't Charterhouse do this sort of thing? will they be letting jobs go? any comments?



Tax-avoidance laws could sting bona fide companies


By Andrew Taylor andVanessa Houlder


Published: January 31 2007 02:00 | Last updated: January 31 2007 02:00


New laws to curb tax avoidance by contract workers are being rushed in and could penalise genuine employers and recruitment companies, Treasury officials have been warned.


The Recruitment and Employment Confederation says employers using managed service companies, labour providers specifically established to reduce income tax and national insurance contributions, could be liable under the new legislation.


From April 6, managed service companies will no longer be able to pay workers a mixture of dividends and salary in order to reduce income tax and NI. If it fails to pay the right amount of tax, the liability will fall on the scheme's specialist provider, many of which do not own any assets, says REC. If they cannot pay, the bill can be passed to the recruitment company or employer who hired the worker.


REC complains that the Treasury has still to publish the full details of the new rules, which will be included in the Finance Bill. It also warns that government expectations of raising £350m from the tax changes could be misplaced, with scheme providers starting to advertise alternative tax arrangements.


Other workers "will not see the benefit of working flexibly as a contractor and opt to take permanent employment", increasing labour costs in sectors such as construction and information technology, says Anne Fairweather, REC external relations manager.


She says: "It is simply not acceptable to introduce changes to the taxation of a quarter of a million contractors overnight. If the Treasury and HMRC want to encourage compliance they need to give businesses the time to understand the new rules.


"Worst of all, recruitment agencies and businesses that use contractors could be put in a very vulnerable situation. The Treasury wants them to be liable for contractors' unpaid tax. This is a massive uninsurable liability and one on which we do not have any detailed information on at all."


Chris Sanger, head of tax policy development at Ernst & Young, says the legislation could create "a hotbed of confusion". He says that recruitment companies have legitimate concerns that they could end up picking up the tab for unpaid tax. "There is a real concern that they are applying evasion powers to what most people would consider avoidance activity."


Francesca Lagerberg of Grant Thornton says she believes the Treasury would be prepared to amend legislation if the consultation highlighted anomalies. "Anyone who thinks they will be caught out in an unfair and unreasonable way should be shouting like mad."


can't say anymore.

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