IT contractors “taking up the slack” as permanent hiring slows
IT contractor demand outpaced permanent hiring in the second quarter of 2012, with contract vacancies increasing by 2.8% versus a fall in permanent IT jobs of 0.8%, compared to first quarter figures. Contract recruitment has also shown a 20% year-on-year increase when compared to the same period in 2011. The July 2012 quarterly update from JobAdsWatch.co.uk also confirms that the overwhelming majority of IT contracts are advertised through agencies, reaching 88.1% during the period. Software developers dominate the skills tables, accounting for 40.8% of all opportunities advertised. More...
Online demand for contractors is back in positive territory
Online demand for contractors across all major contracting disciplines was back in positive territory in August 2012. The latest Monster Employment Index headline index is also back in positive territory, increasing by 2.9% compared to July and up by 1% year-on-year. Despite austerity measures impacting on public spending, online demand for workers in the public sector, defence and community category is leading growth, up 41% compared to August 2011. More...
Contractor markets are gaining momentum, and did so even during August
Contractor prospects have been buoyed by further labour market survey results based on the August contract market and suggesting that contracting recovery is gaining pace. Three major surveys – the KPMG/Recruitment and Employment Confederation (REC) Report on Jobs, Reed Job Index and Morgan McKinley London Employment Monitor – all showed increased demand. This is despite the fact that August is traditionally one of the slowest months of the year for contractor recruitment. More...
Professional contractors saw summer demand fall in some disciplines
In contrast to other broader labour market surveys, the Association of Professional Staffing Companies’ (APSCo) Monthly Trends Report shows that professional contract vacancies fell by 15% during August. “Many professionals seem to have heeded the Government’s suggestions, either to take time off during the games or to work from home – that’s had an influence on hiring,” explains APSCo chief executive Ann Swain. However, APSCo’s data also shows that across the wider contractor market, placements increased by 4% in August compared to July, increasing to 15% for IT contract hiring. More...
Self-employment reaches a new record high during the quarter to July
In the final labour market dataset for this week, the latest Labour Market Statistics published by the Office for National Statistics (ONS) for the quarter to the end of July 2012 shows that another 21,000 individuals became self-employed in July. This brings the total of self-employed workers in the UK to a new record high of 4.223m. Overall, total employment during the period increased by 236,000 and unemployment decreased by 7,000. More...
Taxpayers proved right in over half of HMRC complaints
In over half of the complaints made by taxpayers to HMRC in 2010-2011 the complaint has been upheld. According to law firm Pinsent Masons, which has analysed the results of HMRC’s ‘Tier One’ complaints process, in 57% of taxpayer complaint cases HMRC admitted to mistakes. “The number of cases where HMRC has admitted it got something wrong is remarkable,” says Pinsent Masons’ legal director George Gillham. “It suggests that if you make a complaint to HMRC, they’ll probably decide you're right, at least in part.” More...
Contractors underpin the UK’s new industrial strategy
Contractors are firmly embedded in all three of the industrial sectors the government has identified as forming the core of its new industrial strategy. Advanced manufacturing, including aerospace and defence, knowledge-intensive traded services, including IT, creative and business services, and energy, construction and civil engineering are the areas that, according to the Department for Business, Innovation and Skills (BIS) will merit special support over the next 20 years. More...
Contractors likely to suffer as clients and agencies “squabble” over controlling persons liabilities
Contractors are likely to experience reduced contract opportunities and lower rates as a result of liability disputes generated by the controlling persons legislation, which is currently scheduled to come into force in April 2013. In an interview with Recruiter, Deloitte tax partner Mark Groom warns that clients and agencies are likely to “squabble” over whether contractors are controlling persons and, if so, who will be responsible for deducting income tax and National Insurance Contributions (NICs) at source. Another issue is likely to be whether the agency margin will attract tax and NICs. More...
HMRC generates an additional £500m in extra tax from the UK’s wealthiest taxpayers
Over the last three years HMRC’s High Net Worth Unit (HNWU), which deals with the UK’s 5,000 wealthiest taxpayers, has generated £500m more than its original target. “When we set up the unit we expected to bring in about £100 million a year but, in 2011-12, the tax yield from our intervention work hit £200 million, up from £162 million in 2010-11 and £83 million in 2009-10,” explains HNWU head Martin Randall. “These year-on-year revenue increases have enabled us to deliver half a billion pounds in extra tax to the Exchequer.”