People are choosing self-employment and contracting for positive reasons, says PCG
The steady rise in self-employment over the last five years is not due to the recession. A PCG analysis of the latest labour market statistics published by the Office for National Statistics shows that “the growth in self-employment is driven by people working full-time rather than part-time, a 1% increase compared to 0.3% respectively”. According to PCG’s economist Georgios Nikolaidis, “This shows a clear delineation between those forced into working this way due to a lack of traditional employment and those who are making the choice because it is the right choice for them – and for their engager/client”. More...
Contractor demand growth in Scotland is polarising
Contractor demand growth in Scotland is polarising between IT, engineering and construction on the one hand, and finance, accounting and interim management on the other. This is according to the latest Bank of Scotland Report on Jobs for September 2013, which highlights that although growth remains strong, the rate of growth slowed during the month and, in some sectors, dipped below the long-run average. More...
Oil and gas contractors targeting exploration contracts should consider Norway
Oil and gas contractors seeking upstream contracts may find more success in the Norwegian sector of the North Sea. The latest North West Europe Third Quarter Review 2013 by Deloitte shows that exploration activity in the UK North Sea fell by 35% during the third quarter of 2013, compared to the same period in 2012. In contrast, drilling activity in Norway has increased by 89% year-on-year. More...
Contractors can target hot contracting locations using new tech sector report
Contractors can geographically target the UK’s tech hotspots with a new report into the UK technology sector published by KPMG and Markit. The first of the Tech Monitor UK reports highlights that the tech sector “outpaced other sectors in job hires over the last ten years”. The ten local authority areas with the highest proportion of tech contractors and employees are in the South East of England, with all located close to either the M4, M3 or M25 motorways, near an airport and within a short train ride of central London. More...
Contractors should target London orbital and regional tech firms for contracts
Contractors should target tech firms based outside of London, as identified by the Tech Monitor UK above, as well as regional tech hubs for contracts, because London-based tech firms are struggling to grow. The Telegraph’s Radhika Sanghani reports a YouGov survey showing London’s tech firm growth is being held back by a lack of funding, skills shortages and a lack of affordable office space. Over half of those surveyed believe that tech hubs outside of London will grow as a result of the barriers. More...
Marketing and media contractor prospects buoyed by record ad spend forecast
Marketing and media contractors could be in for a bumper year for new contracts during 2014. According to Campaign magazine’s Louise Ridley, the latest Advertising Association/World Advertising Research Center (Warc) Expenditure Report forecasts 2014’s ad spend will reach £18.7bn, the highest level since the report began in 1982. The fastest growing sector will be online, which will directly benefit IT contractors and digital marketers. More...
Record upwards revision to marketing budgets to benefit marketing and media contractors
More good news for marketing and media contractors comes in the form of the latest Institute of Practitioners in Advertising (IPA) Bellwether Report for the third quarter of 2013. The survey shows upward revision of marketing budgets reaching record levels, and respondents’ confidence in their own financial outlook hitting a survey high. Once again, IT and new media contractors, as well as digital marketers, will benefit from an 11.7% increase in companies boosting digital marketing budgets. More...
Contracting issues gain recognition from Labour at PCG Westminster event
Contractors and contracting issues are gaining greater recognition within the Labour Party, according to the feedback received from MPs at a PCG-sponsored House of Commons event. Senior members of the Labour Party, academics and representatives from other trade associations met to explore how the Labour Party can reach out to freelancers and to examine the latest PCG research. The event showed “that the Labour Party is beginning to recognise the importance of freelancers in the UK economy and understand this unique way of working,” said PCG director of policy and public affairs Simon McVicker. More...
Contractors may avoid taxman visits as HMRC changes BRC approach
Contractors facing a visit from a tax inspector as part of HMRC’s business records check (BRC) programme may escape with only advice or a visit from the Business Education and Support Team. From 4 November 2013, HMRC will change the way it implements the programme in Edinburgh, Glasgow, Leeds, Bradford and Stockport. It plans to “evaluate new risk processes and ensure new approaches are cost-effective and fit with its wider compliance activity”. The result for contractors should be fewer inspector visits. More...
Contractors operating low frequency PAYE face scheme closure by HMRC
Contractors who only pay themselves a salary infrequently and run a Pay As You Earn (PAYE) scheme for income tax and National Insurance Contributions (NICs) may find their scheme is automatically closed by HMRC. From 28 October 2013, any scheme that has not made a payment for 120 days will be reviewed by HMRC and may be shut. Contractors seeking to retain their PAYE scheme may wish to consider more regular salary payments, and should ideally consult their accountant before their scheme is closed. More...