35% of clients to take on new contractors in 2013: REC JobsOutlook
Nine out of ten contractor clients are planning to maintain or increase contractor hiring during 2013, and more than a third (35%) plan to take on more contractors. This is according to the latest Recruitment and Employment Confederation (REC) JobsOutlook. “At first glance the predicted growth in jobs for 2013 may seem at odds with recent gloomier news about lack of GDP growth,” notes REC director of policy Tom Hadley. “Our latest data indicates that the robust performance of the UK labour market looks set to continue.”
Contractors to benefit from oil and gas sector “skills meltdown”
Contractors across all major contracting disciplines look set to benefit from a medium- to long-term contract bonanza starting during 2013. A new report by oil and gas sector analyst GL Noble Denton highlights that the global oil and gas sector remains largely unaffected by economic woes, and new exploration and production projects continue apace. However, the predicted growth does not come without a price: the report predicts a “skills meltdown” of key skills shortages, which contractors can play a major role in fulfilling. More...
Contractors have a role to play filling IT skills shortages across Europe
Contractors can play a key role in filling the estimated 700,000 unfilled IT roles across Europe. A report by the European Commission (EC) shows that IT jobs are increasing by 3% each year across the European Union, but the number of information and communication technology (ICT) graduates and other skilled workers is shrinking. The EC“is issuing a call to action to companies, governments, educators, social partners, employment service providers and civil society to join us in a massive effort to ‘turn the tide’.” More...
Contractor demand steadily increasing in local authorities
Contractor demand in local authorities is set to grow as “councils won’t authorise permanent staff positions, yet need key roles to be filled”. This is according to Jamie Horton, managing director of contractor agency Comensura, talking to the Guardian Professional’s David Walker. IT, sales, marketing and legal contractors, “and especially HR and procurement”, are in particular demand by local authorities.
Contractor demand may increase due to CEO uncertainty: PwC CEO survey
Contractor demand may increase as the CEOs of the UK’s largest businesses show increasing uncertainty about future business prospects. The PricewaterhouseCoopers (PwC) annual global CEO survey shows: “UK business leaders’ confidence remains constrained by concerns over short-term growth prospects.” Cost cutting and investment that will grow customer base are the short-term priorities. Although counter-intuitive, contractor demand increases during periods of uncertainly because they represent a flexible, low-risk, turn-key solution to maintaining capacity and service delivery standards.
Contractors may see HMRC service standards improve following latest PAC criticism
Contractors may spend less time on the phone and have their mail processed faster if HMRC responds positively to the latest criticisms from the House of Commons’ Public Accounts Committee (PAC). In a report by AccountancyAge’s Calum Fuller, HMRC’s customer service targets were branded as “unambitious” by PAC chair Margaret Hodge MP, “noting that failure to answer the phone cost taxpayers £130m in 2011/12 and that the industry standard is answering 80% within 20 seconds.” More...
General Anti-Abuse Rule (GAAR) advisory panel to start work soon
Members of the interim advisory panel for the new General Anti-Abuse Rule (GAAR) have been announced. The interim panel’s membership is of vital importance for contractors’ interests, as it will oversee the introduction of the GAAR’s guidance regime, and consists of businesspeople, tax professionals and taxpayer representatives. HMRC had planned to load the committee with its own representatives, which caused concern in the tax profession due to the potential for bias over deciding what constitutes ‘unacceptable avoidance’.
Oil and gas contractors can use new offshore training facility to upgrade skills
Oil and gas contractors can now access new training resources. enabling them to maintain and update crucial offshore safety and engineering skills. Your Oil and Gas News reports that the Fabricon Offshore Services Academy in Newcastle, “has been developed by engineers for engineers to provide a fully-integrated training, learning and development set of programmes aimed at people looking to upgrade or diversify their skills.” More...
Contractors in tax arrears face having their assets seized by HMRC
Contractors with tax arrears are now twice as likely to be issued with a distraint order by HMRC. A report by finance provider Syscap shows that HMRC’s use of distraint orders nearly doubled between 2010/11 and 2011/12, growing from 5,520 to 10,755 over 12 months. Distraint orders empower the taxman to seize a contractor’s business assets and auction them to raise money to pay off the contractor’s tax arrears.
Contractors trading as sole traders offered avoidance scheme settlement
Contractors trading as sole traders and who have participated in complex tax avoidance schemes involving artificial loan-financed losses have been offered a settlement opportunity by HMRC. The deal on the table is to disregard any tax benefits of taking out loans for the scheme, limiting tax relief to the contractor’s cash contribution, and early settlement of any tax liabilities before HMRC starts formal compliance action. More...