Contractors would benefit from ‘utopian’ measures if IPSE’s manifesto is adopted
Contractors should be enjoying the benefits of a UK ‘microbusiness utopia’, says the association for Independent Professionals and the Self Employed (IPSE – formerly known as PCG). Its new manifesto, Britain’s Secret Weapon: Unleashing Independent Professionals and the Self-Employed in the New Economy, proposes bold reforms of the UK’s tax system and measures such as creating a minister for the self-employed and a new ‘freelancer limited company’ structure. More...
Contractor demand reached 16-year high, driven by growth in the English regions
Contractor demand growth reached a 16-year high during August 2014, with the number of vacancies growing at the fastest rate since May 1998. Increased hiring in the English regions was behind the growth, shows the latest Recruitment and Employment Confederation (REC)/KPMG Report on Jobs. The report explains that skills shortages are driving clients to seek talent outside of London, resulting in both increased rates and opportunities for contractors. In contrast, the August’s Morgan McKinley’s London Employment Monitor shows a sharp drop in hiring and contractor availability in London’s financial sector. More...
IT, finance and engineering candidates in huge demand, as other hiring cools
Contractors and employees in the core contracting disciplines of IT engineering and finance are in huge demand, according to the Manpower Employment Outlook Survey for the fourth quarter of 2014. In contrast, hiring in other sectors of the labour market is forecast to slow down as 2014 draws to a close. “We are seeing huge demand for skilled IT, finance and engineering candidates,” highlights ManpowerGroup Solutions managing director James Hick. More...
Construction contractors buck trend of declining jobs market
Construction contractors, alongside workers in automotive and logistics, were in the most demand during August. In direct contrast to the Report on Jobs, the Reed Job Index for August 2014 shows all other parts of the UK labour market cooling, with declining demand in the core contracting disciplines of IT and engineering. “Annual growth remains encouraging, but August’s figures remind us that we cannot take the recovery for granted,” says reed.co.uk chairman James Reed. More...
Interim management contractor demand increases by 4% during Q2 2014, says IMA
Demand for interim management contractors increased by 4% in the second quarter of 2014, when compared to Q1. The Interim Management Association’s latest Ipsos Mori quarterly survey of interim providers also shows a “huge spike in interim programme and project management roles”. IMA chairman Simon Drake noted: “It is positive to see the continued increase in demand for interim management, and our members anticipate this continuing throughout 2014, as confidence returns in business.” More...
Contractors caught by HMRC in tax avoidance scheme should be offered Time to Pay
Contractors who used a corporation tax avoidance scheme who have been targeted with tax demands should be given the opportunity to settle what they owe using a negotiated Time to Pay settlement. Economia reports that contractor accountant NoPalaver believes “many mid-ranking IT contractors had become involved in the scheme without realising how aggressive it was”. HMRC told the 16,000 users of the scheme in July that they had only six months to pay back taxes and interest, or they risked further charges and penalties if HMRC has to take the scheme to court. More...
Oil and gas contractor prospects buoyed by new research
Oil and gas contractor prospects have been given a boost by new research from the University of Aberdeen showing that the North Sea holds oil and gas reserves that could potentially maintain production until 2050 and beyond. It also highlights that oil and gas finds that are currently commercially non-viable may become so in the coming decades, further boosting production. Although UK oil and gas contractors with North Sea experience are in high demand in overseas markets, this is positive news for the industry and those contractors keen to continue working in the UK. More...
Contractors won’t be fined for RTI errors until 6 March 2014
Contractors, and other employers with less than 50 employers, will continue to be exempt from HMRC fines for errors in their Pay As You Earn (PAYE) Real Time Information (RTI) submissions until 6 March 2014. Larger employers, such as umbrella companies, will face fines from October. After the deadline, contractor limited companies will be automatically fined if there are errors in their return or file late. According to HMRC: “Where employers believe they have a reasonable excuse for sending a return late, they will be able to appeal using HMRC’s new, online appeals process for automated penalties.” More...
Contractors get belated pat on the back from German economics minister
Contractors and temps were praised for their contribution to Germany’s economic recovery by its Minister for Economics Sigmar Gabriel, reports Staffing Industry Analysts. Previously, Gabriel has been highly critical of contractor recruiters and his Socialist party wanted to make it even harder for firms to hire contractors in Germany’s already notoriously overregulated labour market. “Today, temporary work is doing more and more of what it was intended to do, integrating people into work and serving as a flexible instrument of the German economy,” explained Gabriel. More...
Contractors with rental properties in Wales and the South West facing HMRC probe
Contractors who have rental properties in the South West of England and in Wales are the subject of a new HMRC compliance taskforce. HMRC says that: “The taskforce will target those who have sold one or more properties and haven’t paid Capital Gains Tax or disclosed rental income.” As similar taskforces operating elsewhere in the UK have led to 80 cases of taxpayers under criminal investigation, contractors should ensure that their tax affairs are completely in order. More...