Nearly half of clients to increase contractor hiring throughout the rest of 2014
Contractor hiring is expected to increase throughout 2014 as nearly half of contractor clients confirm they plan to increase headcounts. The Recruitment and Employment Confederation’s latest JobsOutlook also shows that it is small firms with between 11-50 employees and large firms with 200+ that are hiring the most contractors. Skilled technicians and engineers are predicted to top the skills shortages list during 2014. More...
Contractors set to benefit from strongest business expansion for a decade
Contractors will benefit from a stream of new contracts as the UK service sector is predicted to undergo expansion set to be the “strongest for a decade”. This is according to the latest Confederation of British Industry quarterly Service Sector Survey, which also shows headcounts are forecast to grow. Particularly strong growth is expected in the business and professional services sector, which is where most contracting businesses operate. More...
Contractors gain increased European representation from crowdfunded movement
Contractors have gained another voice in Europe following the creation of the ‘Freelancers Movement’. Set up by Munich-based freelancer Joel Dullroy, the ‘Freelancers Movement’ calls for contractors to show their support for their “unique and vital way of working” by signing up via the official campaign page. “The more freelancers that sign up for the Freelancers Movement campaign, the more policymakers will be forced to listen and act to ensure the needs of independent professionals are catered for,” says PCG CEO Chris Bryce. More...
Interim financial contractor rates increase at twice the rate of permanent staff
Contractors working in the financial sector are experiencing rate increases of double their permanent counterparts, according to recruiter Robert Walters. In its latest salary survey, the financial services specialist finds that increases of 6% year-on-year are benefitting regulatory, derivatives and business partnering specialists. “Rising interim pay rates underscore how cost consolidation in the sector has affected recruitment trends,” explains Robert Walters director of financial services recruitment Peter Milne. “With many firms taking a risk-averse attitude to permanent hires, contractors are benefitting from significant increases in salary, as well as other advantages such as completion and retention bonuses.” More...
Oil and gas contractors are likely to underpin future North Sea growth
Oil and gas contractors are what will be required to secure the future success of the North Sea. Oil & Gas UK’s Activity Survey 2014 warns that the North Sea may not fulfil its full potential unless exploration and production levels increase. “Even if currently planned wells proceed, the rate of drilling is still too low to recover even a fraction of the estimated six to nine billion barrels yet to be found,” explains Oil & Gas UK chief executive Malcolm Webb. More...
Oil and gas contracts may increase under new UK Continental Shelf strategy
Oil and gas contractors may benefit from an increased number of contracts alongside improved long-term North Sea prospects if a new strategy to extend the life of the UK Continental Shelf is adopted. Sir Ian Wood’s long-awaited report, the Wood Review, details strategies to produce up to 4bn more barrels of oil, sustain and increase employment in the UK’s oil and gas sector, and improve UK tax revenues. More...
Contractors with property portfolios to enjoy record high house prices growth
Contractors with residential property portfolios are predicted to see the value of their properties rise at a record rate in the coming months. The Markit/Knight Frank future House Price Sentiment Index “hit a record high in February”, with householders in every region expecting that property values will rise over the next 12 months. “The recovery in the housing market reflects the increasing economic confidence in the country,” says Knight Frank head of UK residential research Gráinne Gilmore. More...
HMRC targets big firms’ accounting policies in anti-tax-avoidance campaign
Contractors are for once not the target of an HMRC campaign as the taxman targets the accounting policies of large firms in an anti-avoidance campaign. Out-Law.com reports that law firm Pinsent Masons has obtained figures showing an increase of 57% of the HMRC’s Large Business Service investigations relating to accounting standards breaches during 2012. Pinsent Masons tax expert Heather Self told Out-Law.com that “HMRC appears more willing to challenge suspected misapplication of the statutory accounting standards if they thought that a change to a company's accounting policy could increase its tax bill.” More...
Contractors with offshore assets the target of a new HMRC advertising campaign
Contractors with undeclared assets offshore are the target of the latest advertising campaign launched by HMRC. According to BBC News, “Chancellor George Osborne said the campaign aimed to ‘make it very clear’ that if people hid money offshore ‘then we are coming after them’”. Osborne was also reported as saying that HMRC is “expecting to collect a significant amount of revenue, but the challenge is finding out exactly what is hidden offshore.” More...