Best contractor competition launched by PCG, with £5,000 up for grabs
PCG has launched its 15 for 15 competition to find the UK’s top contractor. Selected from 15 finalists, the winner will receive £5,000 and a host of business and tech support. “This competition isn’t just open to ‘dragon’s den’ style entrepreneurs, we want everyone from web designers and architects through to carpenters and artisan bakers to get involved and tell us why they’re Britain’s best one-person business,” says spokesperson for the competition Louis Clark. More...
Contractors could see income tax and NI merge under a future Tory government
Contractors could see income tax and National Insurance merge if the Conservatives win the next election in 2015. A report by The Independent says that Chancellor George Osborne “came close to approving the dramatic move in this year’s Budget, but backed off because of problems integrating computer systems”. The proposal may now form part of the Conservative manifesto for the 2015 general election. More...
Financial, marketing and IT contractor hiring to increase in UK financial sector
Financial, marketing and IT contractor hiring looks set to increase in the coming quarter, according to the latest Confederation of British Industry (CBI)/PwC Financial Services Survey. This is a reversal of the sector’s fortunes during the current three months, when employment numbers fell slightly. “Firms’ confidence in the longer-term outlook is underlined by plans to invest more in marketing and IT over the year ahead,” notes the report, underscoring the improved prospects for contractors seeking financial sector clients over the medium term. More...
Oil and gas contractors benefit from skills shortages, but North Sea activity may fall
Oil and gas contractors around the European oil and gas capital of Aberdeen are continuing to benefit from localised and role-specific skills shortages. The 20th Aberdeen and Grampian Chamber of Commerce Oil & Gas Survey also highlights that exploration and production is reducing, with a potential dip in contract opportunities. However, contractors are highly mobile and those with North Sea experience are highly prized in oil and gas provinces elsewhere in the world. More...
Increased contractor hiring across all sectors of the UK economy
New contracts and jobs are being created by each of the three core sectors of the economy, with hiring at record levels in the construction and services sectors, say the latest Purchasing Managers’ Indices (PMIs) from Markit and the Chartered Institute of Purchasing and Supply (CIPS).
- The UK Manufacturing PMI shows new contract and job creation at a 39-month high, driven by small to medium sized enterprises. The pace of output growth was the strongest for 20 years
- The UK Construction PMI records that “employment growth [was the] strongest since the survey began in April 1997”, led by residential and commercial building
- The UK Services PMI notes that new business rose at the fastest pace in six months, driven by new marketing and good weather, and there was “a survey record increase in payroll numbers during June”.
IT contractor client insolvencies fall
The number of IT companies going bust fell 10% during May 2014 when compared to May 2013. IT developers, software houses and service companies are the largest consumers of IT contractor services, and the recovery of the sector sends a strong positive message to IT contractors about their prospects. According to the Exaro Insolvency Index, it is the second consecutive month that IT company insolvencies have fallen. More...
Creative industry contracts and jobs increased by 10% in two years
The number of new contracts and jobs in the UK’s creative industry grew by 10% over the last two years, show recent figures published by the Department for Culture, Media and Sport. The UK’s creative sector is fertile ground for contractors and freelancers, currently employing 1.71m workers, a 5.5% share of the UK’s total jobs. New contract and job creation has grown at five times the rate of the wider UK labour market, suggesting this is a strategically attractive sector for contractors to target. More...
Contractors won’t be bankrupted by new tax rules, claims HMRC
Contractors won’t be bankrupted by the taxman’s new ‘accelerated payments’ powers to demand money upfront from tax avoidance scheme users, an HMRC spokesperson told City AM. “The important thing to remember is that taxpayers retain full appeal rights against the substantive tax liability,” explained HMRC’s Patrick O’Brian. “There is no change to the tax liability owed. This is tax the individual would have already paid if they hadn’t entered into the avoidance scheme. If they win their case, HMRC will repay the tax with interest.” More...
Contractors can now register for tax credits online with new HMRC service
Contractors can use a new online service and apps from HMRC to register their tax credits renewal. With the deadline for renewal only a month away at the end of July 2014, HMRC hopes that the service will reduce the 650,000 taxpayers who failed to renew on time last year. “Loads of people have already renewed their tax credits claim online, and have found it quick and easy to do,” says HMRC’s Nick Lodge. “We’ve now made it even better and are encouraging everyone to renew online if they can, at a time that suits them.” More...