Contractor, or iPro, numbers experience recession-busting growth across Europe
The numbers of contractors and other independent professionals – or iPros – across Europe have seen recession-busting growth. This is according to a new study commissioned by PCG and the European Forum of Independent Professionals (EFIP). It also underlines fundamental changes to the way work is performed. “This report proves conclusively that freelancing is the fastest growing sector of the European labour market,” notes PCG director of policy and public affairs Simon McVicker. “More importantly, it contains important recommendations for policymakers, businesses and freelancers themselves as we enter this brave new world of working.” More...
Contractor demand reaches five-year high, with growth across the board
Contractor demand during October 2013 was at its highest level since September 2008 according to the latest Reed Job Index. For the first time since the index began, all industry sectors, including core contracting disciplines, experienced year-on-year growth and all UK regions were in growth territory. “This is the first time we have seen growth across every sector and in every region since we started the index at the end of 2009, which is good news for businesses and people around the country,” says reed.co.uk chairman James Reed. More...
Financial contractor hiring increases, in contrast to permanent vacancy falls
October 2013 saw an increase in contract roles in London’s financial sector, with asset managers and risk experts in particular demand. The latest vacancy figures from financial recruiter Astbury Marsden also show that in contrast to the growth in contractor vacancies, demand for employees during October 2013 was down 12% compared to October 2012. The recruiter’s chief operating officer Mark Cameron believes that demand for contractors in preference to employees will continue until markets recover: “Banks have been badly burnt in the past hiring on a short-term bounce in business volumes and then having to go through costly lay-offs, so many are being prudent and putting off bigger hiring decisions”. More...
IT contracting and wider IT industry outperforms UK economy
The IT contracting sector and IT industry as a whole is growing at twice the rate of the rest of the UK economy. New research by sector skills council e-skills UK, professional institute the British Computer Society (BCS) and trade association Intellect also shows that the number of IT workers has grown at four times the rate of the workforce as a whole. “The UK tech sector is critical to the national economy,” notes Intellect’s Julian David. “Across all industries we employ more than 1.4 million people, representing 5% of the total UK workforce.” More...
HMRC continues to withhold key IR35 data, refusing to answer FoI requests
Contractor service provider Pulse Umbrella Group has had its freedom of information (FoI) request for data about the taxman’s enforcement of IR35 denied by HMRC. Claiming that it has a future intention to publish which exempts it from releasing data, HMRC refused to divulge how many IR35 reviews have had a successful outcome and any data about investigations from 2011 to the present. HMRC has adopted a similar tactic with requests submitted by ContractorCalculator. The Pulse Umbrella Group CEO Chris Futcher noted: “Genuine contractors are being let down by HMRC on IR35”. More...
Contractors to receive advice from contracting experts in run up to NFD
Contractors will be able to access tips, advice and hints on a variety of contracting issues via a series of four podcasts to be published by PCG in the run up to National Freelancers Day. The first podcast features financial marketer Mike Symes of Financial Marketing Ltd, who explains how he reached the enviable position of having clients pitch to him to secure his services. More...
Marketing and media contractor prospects enhanced by growing SME marketing spend
Marketing and media contractor prospects received a boost following the news that the UK’s small to medium sized enterprises have doubled their marketing spend over the last 12 months. An eMarketer report shows that over half of SMEs plan to maintain their spend and nearly a third are planning to increase budgets. The data shows that SMEs are increasingly using social channels for marketing, and depending less on classified ads online and in print. More...
Contractors to benefit from increased activity across all sectors of the UK economy
Contractors are benefitting from increased activity and hiring across all the main sectors of the economy. The Markit/Chartered Institute of Purchasing and Supply (CIPS) UK Purchasing Managers Indexes (PMI) for Manufacturing, Construction and Services all showed strong growth and increased hiring during October 2013. A separate Business Confidence Monitor survey by the Institute of Chartered Accountants of England and Wales (ICAEW) and Grant Thornton confirmed third quarter economic growth at 1.3% and suggested that the UK may have the fastest growing developed economy going into 2014. More...
Contractors will enjoy greater protection from new recruitment enforcement strategy
Contractors look set to enjoy better protection under the Conduct Regulations as the Department for Business, Innovation and Skills (BIS) transfers enforcement of the regulations to HMRC. According to a report by the Association of Professional Staffing Companies (APSCo), “with immediate effect resources from the Employment Agency Standards Inspectorate (EAS), which was situated within BIS, will move to HMRCs’ National Minimum Wage (NMW) team”. The move is positive for contractors, says APSCo, because “it will also ensure that there will still be experienced enforcers sitting within BIS to deal with complaints about staffing companies”. More...
Contractors with assets held in the Cayman Islands face HMRC spotlight
Contractors who have assets held offshore may find they become the subject of HMRC interest following a new information exchange deal struck with the Cayman Islands. The deal allows ‘automatic sharing’, which means Cayman Islands’ financial institutions may routinely inform HMRC of any UK citizens with accounts or assets held in local accounts. This is the latest of series of deals the UK government has entered into with offshore tax havens in an attempt to reduce the tax gap. More...