Lords slam government’s and HMRC’s response to the PSC inquiry
Members of the House of Lords’ Select Committee on Personal Service Companies (PSCs) inquiry roundly criticised the government’s and HMRC’s response to the results of its inquiry. Contractors, their use of personal service companies (PSCs) and HMRC’s enforcement of IR35 are all “regarded as unfinished business”, according to committee chairman Baroness Noakes. Despite having the opportunity to rebut the Lords’ criticism, the response by government spokesperson Lord Newby did little to reinforce its position. More...
Contractors face HMRC judge, jury and executioner as MPs approve Finance Bill
Contractors using tax avoidance schemes will be asked to stump up the projected tax savings in advance, and may find their scheme branded as illegal without having the opportunity to test it in court. This is because MPs have approved the Finance Bill without amending the controversial follow-on notices and accelerated payment legislation. “The committee [of MPs reviewing the bill] acknowledged that it was widely commented that there was insufficient time for proper consultation on this new legislation,” highlights Abbott Moore’s founder and head of tax James Abbott. More...
Contractor hiring in the SME sector to surge during next quarter
Contractors may find their next contract with a small to medium sized enterprise (SME), as these are the companies most looking to hire contractors over the next quarter. This is according to the latest Recruitment and Employment Confederation (REC) JobsOutlook for May 2014, which also says that 46% of contractor clients across the board plan to hire more contractors over the next four to twelve months. “Contractors can offer a range of solutions to client organisations, whether they are global financial sector firms or start-ups,” notes ContractorCalculator CEO Dave Chaplin. “It is encouraging to see that the UK’s smaller businesses have recognised the benefits contractors can offer.” More...
Contractor demand and rates in Scotland grew in May 2014
Contractor demand growth in Scotland was sustained during May 2014, but the dwindling supply of candidates is leaving many clients and agencies unable to fill roles, reports the latest Bank of Scotland Report on Jobs. This is potentially providing an increasing number of opportunities for contractors from throughout the UK. The report also highlights that rates are increasing, driven by “the combination of increased demand for staff and falling levels of available candidates”. More...
Contractors with specialist skills benefit from “talent war and salary boom”
Contractors with specialist skills are benefitting from a “talent war” that is leading to increased rates and demand. May 2014’s Morgan McKinley London Employment Monitor shows new contracts and jobs have increased by 15% when compared to the same period in 2013. “In terms of the areas where hiring is currently most buoyant, we’ve seen a significant uplift in regulatory roles within the accounting and finance space, particularly for accounting policy specialists with Basel III and CRV (Capital Requirement Directive) IV experience,” explains Morgan McKinley Financial Services operations direct Hakan Enver. More...
Contractors benefit from pre-recession levels of hiring, shows Manpower report
Contractors are now experiencing pre-recession levels of hiring, according to ManpowerGroup’s UK Employment Outlook for the third quarter of 2014. “While job prospects have been strong, it’s only now that we’re seeing a return to pre-recession hiring plans,” says ManpowerGroup UK managing director Mark Cahill. “What’s more, we’re seeing broad-based growth across permanent roles, the self-employed and contractors.” Hiring confidence has also partially recovered in the UK public sector, despite ongoing austerity measures. More...
Contractors enjoying robust hiring from a strongly performing manufacturing sector
Contractors are enjoying strong hiring from the UK’s manufacturing sector, which is performing at levels close to December 2013’s eighteen-year high. The Confederation of British Industry’s (CBI) Industrial Trends Survey shows strong export growth, with the food and drink sector performing particularly well. “Demand for British-made goods remains buoyant and that’s helped drive this quarter’s further rise in output,” explains CBI deputy director-general Katja Hall. “Growth is broad-based, with the recovery spreading its roots, and firms have high hopes for the coming quarter.” More...
IT and tech contractors to gain a fresh policy voice from new Lords’ committee
Contractors in the digital space could gain greater input into policymaking following the creation of a new Lords’ select committee. The Digital Skills Committee will: “Consider information and communications technology competitiveness and skills in the UK.” The committee will report on its findings in March 2015. Input from contractors should form a core element of the committee’s evidence, and contractors are urged to make contact when the committee begins its evidence gathering. More...
Urgent call for more female IT contractors
An ongoing decline in the number of female IT contractors and other IT professionals “is threatening the UK’s ability to meet the forecast need for 29,000 entrants a year to IT and telecoms specialist roles”. Recruiter reports that the British Computer Society’s (BCS) Women in IT Scorecard shows that the gender imbalance is becoming more acute, and has its origins in declining numbers of IT students in schools. BCS told Recruiter that “of the 753,000 people working in the [UK] IT sector, just one in five were women”. More...
London’s digital tech sector to create 46,000 new jobs and contracts within 10 years
London’s technology sector is forecast to generate an additional 46,000 new contracts and jobs over the next decade. London mayor Boris Johnson highlights that the tech sector in London and the South East is growing faster than California’s. He says that London now employs more financial IT contractors and workers than Silicon Valley and New York. The announcement was made during the launch of London Technology Week, which will host over 200 events predicted to be attended by more than 30,000 IT and digital professionals. More...