Umbrella company contractors gain protection from minimum wage abuse
Tax relief on travel and subsistence expenses can no longer be used to top up umbrella company contractors’ pay to meet National Minimum Wage (NMW) requirements, following a High Court ruling. Recruiter Cordant Group’s bid to block an amendment to the NMW regulations that came into force this month failed when Mr Justice Kenneth Parker ruled in favour of BIS. Parasol chief executive Rob Crossland applauds the ruling for stamping out poor practices: “For umbrella companies at the low-skilled end of the market it now creates a level playing field.” More…
IT and engineering contractors end 2010 with strong demand for their services
Demand for IT and engineering contractors was strong in December, according to the Reed Job Index. Overall, the index fell in December compared to the previous month, reflecting a seasonal fall in demand for workers, but demand was at, or close to, 12-month highs for the core contractor disciplines of engineering, IT, marketing, media and consulting. Managing Director of reed.co.uk, Martin Warnes, is upbeat about the jobs market in 2011: “The jobs economy has undoubtedly avoided a much-predicted double-dip in 2010 and the private sector continues to lead a steady recovery in new job demand.” More…
IT contractor demand in mainland Europe predicted to rise
IT contractors could be commuting to government clients in mainland Europe if predictions by Jean-Louis Bravard of Burnt Oak Partners come to pass. Alongside his forecast that “European governments will reluctantly copy the UK and actively outsource”, Bravard predicts that call centre jobs will return from India and other low cost countries, but Chinese IT “will begin to be respected as a serious provider of hardware and software.” Bravard’s predictions were reported by ComputerWeekly.com. More…
Umbrella company contractors urged to complete due diligence on potential service providers
Contractors should complete thorough due diligence on potential contracting service providers warns ContractorCalculator CEO Dave Chaplin, following the Insolvency Service’s decision to place two umbrella companies, Sunday Solutions and Bradbury & Co, into liquidation. An estimated £80m was handled by the Sunday Solutions scheme on behalf of 1,500 contractors, many of whom did not have their tax liabilities paid. “Using free resources such as ContractorCalculator’s Umbrella checklist,” says Chaplin, “contractors can avoid being left to pick up the tax bill.” More…
Contractors face penalties for poor bookkeeping
Contractors trading via limited companies, partnerships and sole-traderships could face penalties if HMRC deems their bookkeeping is not up to scratch. HMRC has outlined its plans to implement a programme of business record checks targeting up to 50,000 small to medium sized enterprises a year and designed to drive-up standards of record keeping. Contractor businesses with ‘significant record keeping failures’ will face penalties. More…
Oil and gas contractor prospects pegged to oil prices says report
Long-term contract prospects for oil and gas contractors are dependent on oil prices, according to a report by academics at the University of Aberdeen. In The Long Term Prospects for Activity in the UK Continental Shelf, Professor Alexander Kemp and Linda Stephen estimate that 30% of UK oil and gas reserves have yet to be extracted. Should the current high price of $90 a barrel be sustained, it could result in more than 17 new offshore fields opening per year, creating significant opportunities for contractors.
New energy, engineering and offshore roles in South West – but not until 2015
Contractors working in the offshore, renewable energy and engineering sectors can expect a share of the 6,000 new roles forecast to be created in the South West’s marine renewables industry from 2015 onwards. A report commissioned by the South West Regional Development Agency says the new jobs are expected to be created between 2015-2030 as marine renewable infrastructure in the South West is constructed and maintained.
Manufacturing contractors continue to benefit from rising production
Contractors working in and supporting the manufacturing sector continue to benefit from increased production output, as December’s Markit/Chartered Institute of Purchasing and Supply (CIPS) Manufacturing Purchasing Managers Index (PMI) has risen to a sixteen-year high. Domestic and overseas demand have increased, led by substantial growth in the electrical, transport and chemicals and plastics sectors. In contrast, the Markit/CIPS Construction PMI fell in December, despite modest rises in new business, with the fall being explained by poor weather preventing project starts. More…
Energy and manufacturing contractors could be the winners in the first half of 2011
Energy and manufacturing contractors are likely to experience sustained demand against an overall backdrop of slowing growth in the first six months of 2011, predicts the Lloyds TSB Business in Britain Survey. Business confidence is highest in manufacturing, energy and finance. Finance and energy are forecast to generate the greatest number of new roles, and the energy sector is predicted to be investing in capital spending.
US study shows many typical contracting fields are the ones to be in this year
A new US study shows that now's a pretty good time to be in many of the traditional contracting fields, with IT, engineering and financial services roles coming high in CareerCast’s rankings of “Top Jobs for 2011”. Ranking 200 roles on a combination of "work environment", "stress", "physical demands" and "hiring outlook", the study also placed several typical locum and interim roles in the top 50. More…