Contracting market at quarterly high, with election uncertainty benefiting contractors
Contractors saw increased demand and rising rates, which when combined with a three-month high for contractor agency billings and falling candidate availability, puts the contracting market at a quarterly high. December 2014’s Recruitment and Employment Confederation (REC)/KPMG Report on Jobs also warns that the forthcoming election could impact negatively on the UK labour market. However, uncertainty on the part of large organisations can only work in contractors’ favour. More...
Contractors provide “vital service…for public bodies” says IPSE, defying critics
Contractors play a vital role in maintaining local authority service delivery during times of austerity, says the Association of Independent Professionals and the Self-Employed (IPSE). In response to a Times’ report that is highly critical of the use of interims and consultants in local authorities, IPSE’s Simon McVicker highlights: “The reports on local council spending on consultants are overlooking the vital service that contractors provide for public bodies up and down the country. Consultants with specialist skills are an invaluable resource for the public sector.” More...
Oil and gas contractor roles at BP cut, alongside permanent positions
Oil and gas contractor roles have been cut from BP’s North Sea operations in response to the falling oil price. BBC News reports that 100 contracts have been cut and 200 permanent roles are to go from the company’s onshore operations. BP told the BBC that “it needed to respond to ‘toughening market conditions’”. BP’s moves follow contractor rate freezes and cuts by other oil and gas firms, including Wood Group. Continued falls in the oil price is likely to result in further rate and headcount cuts, although contractors with hard to source engineering and geosciences skills are likely to find their contracts safe. More...
US oil and gas contract opportunities to shrink in 2015
Oil and gas contract opportunities in the US look set to shrink during the first half of 2015, according to a survey by Rigzone. Nearly half, 44%, of hiring managers questioned planned to hire fewer oil and gas professionals in the first six month of 2015, with only 22% planning to hire more. Six months earlier in July 2014, 50% of hiring managers were planning to hire more professionals. Worryingly, 36% of those surveyed said that they are considering laying-off workers. Fortunately, oil and gas contractors are highly mobile and, despite the slump in oil prices, there are many oil and gas provinces that are still actively hiring. More...
Umbrella company contractors banned from Welsh Assembly construction projects
Umbrella companies, and by default their contractor employees, have been banned from working on Welsh Assembly construction projects. According to the Freelancer and Contractor Services Association, this move “will work to tarnish the reputation of the many compliant and responsible companies working in the best interests of contractors”. CEO Julia Kermode notes: “Umbrella employment is a positive choice for many and I am going to personally contact the Welsh Assembly Ministers concerned to ensure that they appreciate the benefits of this type of employment and have not simply been influenced by union misunderstandings.”
Financial and IT contractors suffer seasonal hiring slowdown, but underlying trend is positive
Financial and IT contractors suffered sharp fall in hiring in London’s financial sector during December 2014, but year-on-year the City continues to perform well. December’s Morgan McKinley London Employment Monitor shows that vacancies fell 37% during the month running up to the festive break, but this is a seasonal blip and January should see hiring pick up. "We see continuing growth for London's financial sector,” explains Hakan Enver, Operations Director, Morgan McKinley Financial Services. “The highly-qualified professional, ideally with technical know-how and international experience, will continue to be a sought-after commodity in the City and we believe London's pre-eminence as the world's most important financial centre will continue into 2015.” More...
Life sciences and pharma contractors have strong opportunities in Ireland
Contractors in the life sciences and pharmaceutical sectors were in strong demand in Ireland during December 2014, and the requirement for suitability qualified life sciences professionals looks unlikely to abate during 2015. The latest Morgan McKinley Irish Employment Monitor shows demand for professionals in the country at its highest level since 2008, with a 49% year-on-year increase in vacancies. Less positive news is that Irish employers are increasingly offering permanent roles when previously only contracts were on offer, but there are still plenty of contracts for contractors with the right skills. More...
Tech contract opportunities for 2015 will be in drones, logistics and the IoT
Contractors with technical skills with drones, logistics and ecommerce and the internet of things (IoT) are likely to be in great demand during 2015. Deloitte’s top technology trends for 2015 predict that the huge growth in click and collect locations will result in a corresponding growth in the infrastructure needed to support it. With the number of commercial drones in use worldwide expected to rise to over 1m, software and systems to support business applications will need to keep pace with user demands. And with 1bn IoT devices expected to be sold during 2015, IT contractors with the relevant skills will find themselves in great demand. More...
Contractors can access free financial advice at IPSE’s next Freelancer MoneyBox event
Contractors can access free financial advice alongside tax tips before the online self-assessment tax return deadline at IPSE’s next Freelancer MoneyBox event in central London on Wednesday 21 January 2015. The event will feature a range of financial services exhibitors as well as the opportunity for contractors to network. “In the first Freelancer MoneyBox of 2015, we are encouraging all freelancers, from those just starting out to those who have been their own boss for years, to start the New Year in order,” explains IPSE chief executive Chris Bryce. “As well as helping with self-assessment returns, experts will also be on hand to advise on everything from mortgages and insurance to debt collection and insolvency.” More...
Contractors warned about tax return deadline, as record numbers will submit online
Contractors should ensure they don’t leave filing their self-assessment tax return online to the last minute, as a record 11m taxpayers are due to file online by the 31 January deadline. The Chartered Institute of Taxation (CIOT) has issued its warning as it fears that the unprecedented number of online submissions could “put…pressure on HMRC’s systems”. CIOT Tax Policy Director, Patrick Stevens explains: “After the euphoria of Christmas and New Year, a £100 fine from [HMRC] for late filing would be a particularly nasty shock. Last year, despite increased fines and publicity, almost one million taxpayers failed to file on time.” More...