Contractors have a wider choice of roles than at any time in the last five years
Contractors had 62,000 new contract roles advertised on just one job platform over the last quarter, representing an increase of 16% on the previous quarter. The Reed Job Index for April 2014 shows that 555,000 permanent roles, 88,000 temps jobs and 62,000 contract positions were advertised since the start of 2014. “Candidates entering the market now have a wider choice of vacancies than at any time in the last five years," believes reed.co.uk chairman James Reed. More...
Financial IT contractors may benefit from Barclays' 19,000 job cuts
Financial IT contractors may actually benefit from the decision by Barclays to restructure and shed 19,000 staff - 9,000 in the UK - over the next three years, as reported by BBC news. Despite the recent rate cuts, many of Barclays' proposed strategic moves, including the decision to create a 'bad bank' made up of the bank's non-core assets, are likely to be underpinned by IT. Many of the roles set to disappear may be replaced by technology solutions, particularly in the bank's retail banking arm. More...
Female contractors invited to PCG's first networking event
Women independent professionals are invited to PCG's first women's networking event, held in association with the Talented Ladies Club, an online community for working mothers. The event "will be a great way to meet fellow female freelancers in a relaxed environment," says PCG. It will be held at PCG's Chancery Lane Club Workspace in London from 18:00-21:00 on 29 May 2014. More...
Contractor prospects buoyed by increased activity across UK economy
Contractor prospects have been further buoyed by increased activity across all major sectors of the UK economy, according to April 2014's Markit/Chartered Institute of Purchasing and Supply (CIPS) Purchasing Managers' Indices:
- Manufacturing "surged higher in April", reaching a five-month high, with hiring increasing for the twelfth consecutive month, More...
- Construction activity growth slowed, but remained firmly in growth territory, More...
- The service sector "saw another marked increase" in activity, with clients generating more contracts and jobs. More...
Energy and construction contractors could see more fracking work if Lords' report is adopted
Energy and construction contractors, particularly those with onshore unconventional oil and gas experience, could see a stream of new contracts and jobs if recent Lords' Economic Affairs Committee recommendations for “urgently needed” exploration and appraisal" are adopted. Geoscientists, drilling engineers and construction contractors will particularly benefit from any new projects. More...
Oil and gas contractors facing rate cuts by Wood Group
Less positive for oil and gas contractors is the news that major client Wood Group is planning a 10% rate cut for 1,100 of its contractors. A report on Herald Scotland confirms that the cuts are an attempt to "curb...unsustainable cost increases in the North Sea". Contractors may also be offered permanent roles, as the group has over 100 engineering vacancies. More...
Contractors gain greater protection
Contractors will gain greater protection and confidence in dealing with umbrella service providers following the Association of Professional Staffing Companies' (APSCo) decision to adopt the Freelancer and Contractor Services Association code of conduct for its umbrella members. "By adopting the Code of Conduct, we are taking further steps to help protect our members following the new employment intermediaries legislation," notes APSCo's head of external affairs and compliance Samantha Hurley. She also sees the move as supporting “robust self-regulation” by umbrella providers.
450,000 new private sector contracts and jobs to be created over the next 12 months
Contractors will benefit from up to 450,000 new contracts and jobs generated over the next 12 months, according to the latest Institute of Accountants in England and Wales (ICAEW)/Grant Thornton Business Confidence Monitor. Business confidence is at a record high in the second quarter of 2014, and the economy is predicted to grow by 1.2%, taking the size of the UK economy to above pre-recession levels, driving private sector contract and job creation. More...
Up to 17,000 taxpayers face "tax raid on accounts"
HMRC says that it could debit the bank accounts of up to 17,000 taxpayers each year to cover unpaid tax, and do so without the account holder's consent. A report by BBC News quotes the taxman as saying that "the average debt of those likely to be targeted was £5,800". These new powers were granted in the 2014 Budget, and allow HMRC to take money owed for tax and tax credit overpayment directly from defaulters' accounts from the 2015/2016 tax year. More...
Contractor limited companies no longer forced to submit VAT online
Contractors trading via limited companies will no longer be forced to file their VAT returns online. According to the Low Income Tax Reform Group (LITRG) of the Chartered Institute of Taxation (CIOT), companies will be able to use telephone filing "where they satisfy HMRC that it is not reasonably practicable for them to file electronically due to their age, disability, remoteness of location, or any other reason". Paper filing will also be allowed "if for any of those reasons it is not reasonably practicable for them to file either electronically or by telephone”. More...