Contractor demand reaches six-year high, but skills shortages threaten economic recovery
Contractor vacancy growth has exceeded pre-recession levels, reaching a six-year high during October 2013. This is according to the latest Recruitment and Employment Confederation (REC)/KPMG Report on Jobs, which also shows increased contractor demand across every contracting discipline and in every region. REC CEO Kevin Green warns that “The skills shortage shows no signs of abating and although it is starting to drive wages up there is a real danger that it could cause serious damage to future economic growth in the UK.” More...
Contractors will learn of HMRC’s IR35 performance by end-November
Contractors can expect to learn by the end of the month how HMRC’s new IR35 framework is performing. Despite the measures introduced in May 2012, such as the business entity tests (BETs) and specialist investigation teams of IR35 experts, being in place for 18 months, HMRC has repeatedly stonewalled ContractorCalculator’s requests for IR35 data. However, after sustained correspondence, HMRC’s freedom of information adviser Teresa Chance confirmed to ContractorCalculator CEO Dave Chaplin that “…we intend to publish the information before the end of this month”. More...
Contractors enjoy ringing endorsements for National Freelancers Day
Contractors have been receiving ringing endorsements from the government and London mayor Boris Johnson in the run up to National Freelancers Day (NFD) on 21 November 2013:
- Minister for Skills and Enterprise Matthew Hancock highlights that: “Freelancers make a huge contribution to the UK economy”
- Boris Johnson salutes contractors, saying that their “contribution to the lifeblood of our economy is immense”
- Conservative Party Small Business Ambassador Karen Brady notes: “As a businesswoman, I have first-hand experience of working with freelancers and know that they provide an invaluable flexible resource to clients, helping them grow”.
Other NFD preparations continue as the day approaches, including the latest contracting skills and hints podcasts. More...
Clients plan to use contractors to meet short-term demand driven by economic growth
Contractor clients are planning to use contingent workers over the short-term, and not hire more employees in response to economic growth and the resulting uplift in demand for goods and services. The latest Chartered Institute of Personnel and Development (CIPD)/SuccessFactors Labour Market Outlook highlights that many clients expect productivity improvements from their existing permanent workforce before further employee hiring. “With clear signs of further rises in demand for goods and services, it is unsurprising to see employers intend to take on even more people in the short term,” says CIPD Labour Market Adviser Gerwyn Davies. More...
Contractor numbers increase as full-time self-employment rises by 22,000
Contractor and freelancer numbers increased in the three months to September 2013, as the number of full-time self-employed workers in the UK increased by 22,000. The latest Labour Market Statistics from the Office for National Statistics also shows that part-time self-employment is falling, suggesting those workers who chose self-employment because they could not secure full-time permanent work is falling. Overall, the UK’s jobless total fell by 48,000 to 2.47m, representing a three-year low in unemployment. More...
Construction contractors see broad-based sustainable recovery
Contractors working in the UK’s commercial property market are experiencing a 79-month high in construction activity. For the first time in over six years, Savills Commercial Development Activity report shows broad-based growth across all nine construction sectors monitored, led by the private new build market. And although led by London, commercial development growth in the South East and the rest of the UK is also strong, suggesting that the construction sector recovery is sustainable and not just focused on London. More...
Contractor hiring in the small to medium sized enterprise sector set to rise
Contractors are likely to find their services in greater demand by the UK’s small to medium sized enterprises (SMEs), as optimism reaches record highs. The Confederation of British Industry’s (CBI) latest SME Trends Survey confirms that investment and hiring plans are top of the SME business agenda. CBI director of economics Stephen Gifford explains: “Optimism about the general business situation has improved at a record pace, and there is evidence of a general thaw in investment intentions for the year ahead.” More...
Contractors will benefit from having ex-contractor Bryce as PCG’s new CEO
Contractors will benefit from genuine insights and understanding into their needs and way of life from PCG’s newly appointed permanent CEO, Chris Bryce. Former PCG chairman and IT and telecoms contractor Bryce has been the interim CEO since PCG’s restructuring earlier in the year. “Our unique and important way of working is in my blood and I am committed to ensuring that the 'voice of freelancing' is heard loud and clear from Fleet Street through to the Houses of Parliament,” explains Bryce. More...
Contractors to receive online help from HMRC on “Small Business Saturday”
Contractors can take part in four free live tax webinars being run by HMRC on 7 December 2013 as part of the UK’s Small Business Saturday campaign. Two of the seminars focus on self-employment issues, so will not be relevant to limited company and umbrella company contractors. However, the webinars on company director responsibilities and VAT awareness will help contractors better understand HMRC’s expectations of them. More...