Contractor recruiters experiencing chaos over employment intermediaries reporting
Contractor recruiters are already experiencing problems with the Employment Intermediaries reporting rules that came into force from 1 April 2015. The Recruiter reports that many contractor recruiters are unsure what they need to report and when. Parasol’s Derek Kelly told the Recruiter: “We have been contacted by several agencies under the impression that the first return was due in on 6 April, rather than 5 August. This confusion suggests that the government could have done a better job of communicating the detail of the changes to the recruitment industry.” Contractors who subcontract must also report on the freelancers they hire. More...
Contractors remain in demand across the UK’s construction and services sectors
Contractors remained in demand during March 2015 in both the UK’s construction and services sectors. The latest Markit/Chartered Institute of Purchasing and Supply (CIPS) Purchasing Managers’ Indexes (PMIs) show continued strong hiring, as activity in both of the sectors increased:
- Construction confidence in future prospects was at its highest level since February 2006. Despite a softer civil engineering sector, the levels of incoming new work were strong, generating new work for contractors. The UK Construction PMI also showed that some clients are delaying construction plans due to uncertainty caused by the General Election
- The UK Services PMI shows that March 2015 experienced a stronger increase in business activity compared to the previous month, which led to a “marked rise” in new contracts awarded and contractor hiring. As with construction, there is some uncertainty on the part of clients commissioning new projects as a result of the General Election.
Oil and gas contractors face ongoing jobs cuts, but those with niche skills are retained
Oil and gas contributors will continue to face contract and job cuts for the foreseeable future, although those with in-demand skills have a greater chance of being retained. A report by RigZone says that this is what human resources (HR) professionals from leading clients speaking at a recent Workforce NEXT summit believe, and who agreed that “people who wear multiple hats are more attractive to keep”. Ironically, one HR professional, Marty Kunz, vice president of human resources for C&J Energy, noted: “The first folks to get hit during a downturn in an HR department are recruiters.” More...
Financial and accounting contractors in demand to meet finance skills shortages
Financial and accounting contractors and interims are playing an important role in filling skills gaps in the UK’s financial sector. Research by recruiter Robert Half shows that some talent is in desperately short supply and clients are hiring contractors to meet those skills needs. Neil Owen, Director, Robert Half Financial Services, explains: “Contract and interim managers are proving to be successful solutions for firms and as a result, senior executives are already leveraging these professionals while they assess longer-term volume levels.” More...
IT and tech contractors continue to enjoy business growth, outpacing the rest of UK
IT and tech contractors are continuing to enjoy business and contract growth that is outpacing the rest of the UK economy’s performance. The KPMG Tech Monitor UK for the fourth quarter of 2014 showed “the widest performance gap between the IT sector and the rest of the UK economy in nearly six years”. This is working for contractors through elevated levels of hiring that have shown unbroken growth for over five years. More...
Oil and gas contractors won’t need unconventional skills for onshore oil boom
Oil and gas contractors with conventional exploration and productions skills will find their services in demand following a major oil find in the South of England by exploration firm UK Oil & Gas Investments (UKOG). According to BBC News, the results from the company’s Horse Hill well near Gatwick Airport show reserves of 100bn barrels. Crucially, UKOG does not intend to use unconventional production techniques such as fracking to extract the oil, which means contractors with conventional exploration and production skills and experience will be needed. More...
Contractors gain access to three new digital tools from HMRC
Contractors can now access three new online digital tools for managing their personal and business tax affairs from HMRC. AccountingWeb says that the online tools include ‘Your tax account’, which is designed for businesses, allowing contractors to “file, review and pay tax liabilities”. A digital self-assessment portal is aimed at individual taxpayers and holds all tax information online. There is also a function for both limited company and umbrella company contractors that enables them to check their tax codes. More...
Contractors should target professional services and manufacturing for contracts, says CBI
Contractors seeking the growth areas to target for new contracts in the coming three months should focus on the professional services and manufacturing sectors. Financial Director’s Calum Fuller writes that the Confederation of British Industry (CBI) has surveyed 764 companies, including leading contracting clients, about current and future business prospects. The results show that professional services and manufacturing are expected to drive growth over the next quarter. More...
Contractors driving to clients’ sites benefit from advisory fuel rate increases
Contractors running a company car through their limited company and who drive to work can benefit from the new advisory fuel rates that apply from 1 March 2015. Petrol and diesel engine drivers with engines in all three classes benefit from an uplift in rates of between 2p and 3p per mile, depending on their fuel type and engine size. Rates for contractors with LPG fuelled vehicles benefit from increases of between 1p and 2p. More...