Surge in IT and engineering contractor demand, with accountancy and financial services nudging up
IT and engineering contractor demand increased by 8% and 9% respectively during May 2013. The Reed Job Index also shows that demand for accountancy and financial services contractors increased, although not to the same levels as a year ago. “In line with the season, the jobs market has bloomed this spring after steadying in April,” notes chairman of reed.co.uk James Reed. “There are strong signs the growing health of the jobs market will continue to help drive the economy forward.” More...
Marketing and interim management contractors are UK’s “most sought after”
Creative design and ‘C’ level managers are “the most sought after disciplines in the UK”, with 86% of client organisations currently recruiting for these roles. This is according to the latest Global Snapshot Survey by recruitment firm Antal. The report highlights that across Western Europe, it is engineering and production contractors who are in greatest demand. “Many figures in this latest survey suggest that there are green shoots of employment positivity,” says Antal CEO Tony Goodwin. More...
Contractor clients still view the UK as Europe’s top inward investment location
Contractor clients continue to choose the UK as the top location in Europe for investment. Ernst & Young’s UK attractiveness survey confirms that there were 697 inward investment projects during 2012, bringing contracts and jobs to the UK. Business services, financial services and software are the fastest growing sectors. However, the survey warns that Germany is rapidly catching up and may overtake the UK as Europe’s number one location for foreign direct investment. More...
Increasing economic output likely to lead to new contracts across the board
Contractors across all disciplines will see more contracts as a result of the increasing economic output shown by May’s Markit/Chartered Institute of Purchasing and Supply (CIPS) Purchasing Managers’ Indices. Contractors saw growth in output across manufacturing, construction and services. Manufacturing output during May reached a 14-month high, construction was back in growth territory for the first time in six months and the services sector experienced a three-year high. More...
Contractors suffer as a result of industrial action by HMRC staff
Contractors in Yorkshire and the North East seeking help and advice on their tax affairs from HMRC this week would have been turned away, as HMRC staff took part in strikes. A report by Calum Fuller in AccountancyAge says the action by members of the Public and Commercial Services (PCS) Union was “over pay, jobs, conditions and the closure of all 281 HMRC contact centres”. HMRC plans to replace the walk-in contact centres with call centres and meetings in taxpayers’ homes and places of business. More...
Contractors enjoying improved service from HMRC, but only just
Despite this week’s strikes by HMRC (see previous story), contractors are benefitting from gradually improving service from the taxman. In a report on HMRC’s latest performance statistics, AccountingWeb’s Robert Lovell highlights that although the taxman has made progress, one in four taxpayers’ calls were not answered in the last financial year. The Institute of Chartered Accountants in England and Wales (ICAEW), which is monitoring HMRC’s performance, said: “HMRC’s telephone service, although improving, is not yet capable of meeting demand in terms of both time and quality of response.” More...
Contractor limited companies experiencing problems submitting RTI data
Contractor limited companies are among the 140,000 businesses employing fewer than nine people who are unable to send payroll details to HMRC via its new Real Time Information (RTI) gateway. Graeme Burton writes on computing.co.uk that “key information is being omitted or lost, meaning that people may not be paying the required amount of tax”. Contractors may wish to confirm with HMRC that it has received the correct information, as benefits such as childcare vouchers and private healthcare have reportedly been dropping out of HMRC’s system. More...
Contractors would benefit if BCC’s spending review recommendations are adopted
If the Chancellor adopts only some of the British Chambers of Commerce (BCC) spending review recommendations, contractors would benefit from new contracts and lower taxes. Based on a survey of its membership, the BCC is “calling on the Chancellor to shift government spending away from current spending towards capital investment that will help get the economy back on track”. In practical terms, that means lots more large infrastructure projects and exports, both of which will generate contracts. More...
Contractors affected by BN66 awaiting crucial vote by MPs
The fate of contractors affected by BN66 hangs in the balance this month, as does the stability of the UK’s tax system. MPs are voting to amend the law so that tax legislation known as Section 58(4), which is believed by the tax profession to be retrospective, will only take effect from 2008 when it was first introduced. Currently, thousands of contractors who participated in an offshore tax scheme are facing large tax bills going back as far as 2001, to when the scheme was first introduced. More...
Contractor services provider acquires new accountancy practice with entertainment expertise
Entertainment and media contractors and freelancers can access new expertise in the entertainment sector following the acquisition of Michael Brookes & Co accountants by Parasol and ClearSky owner Optionis Group. ClearSky and Optionis managing director Derek Kelly promises further service improvements for contractors: “We are looking to shake up the traditional accountancy market by providing expert-led advice, supported by cutting edge technology.” More...