Small umbrella companies could find Agency Workers Regulations “too costly”
“For many small umbrella companies, the new Agency Workers Regulations could well be too expensive for them to deal with.” That’s the conclusion of ContractorCalculator CEO, Dave Chaplin, following a recent round-table discussion with industry leaders. However, he also says: “No one yet knows how big the problem could be, or even if it is going to be a problem.” Chaplin joined contracting sector service providers and recruiters to debate the future of umbrella companies in light of the introduction of the Bribery Act in July 2011 and the Agency Workers Regulations in October 2011. More…
Oil and gas contractors face less certain future as Budget prompts energy firms to postpone investment
Oil and gas contractors anticipating a bumper crop of contracts following a spate of recent good news have had their hopes dashed. This follows the decision by energy firms Statoil, Centrica and Valiant Petroleum to postpone or cancel major North Sea projects expected to create thousands of jobs. Energy firms are reacting negatively to the ‘windfall tax’ imposed by the Chancellor in the April 2011 Budget. Oil and gas sector representatives are expected to meet with the Secretary of State for Energy and Climate Change Chris Huhne to discuss the tax. More…
Construction and engineering contractors may benefit from UK infrastructure plans
Construction and engineering contractors may actually benefit from the government’s latest Implementation Plan to reduce costs by £2 to £3 billion a year. Despite the pressure to drive down costs, the plans will create greater certainty for the construction and infrastructure engineering sectors, allowing them to plan effectively. Government spending on infrastructure is currently running at around £40 billion a year, and is mainly spent on major civil engineering projects. More…
Contractors receive final warning from HMRC over offshore accounts
Contractors failing to disclose income and gains held offshore before 6 April 2011 could receive penalties of up to 200% of the unpaid tax if they are caught by HMRC. This stark final warning comes as HMRC publishes its penalty regime based on the tax havens where contractors’ undeclared assets are held. “Time is running out for anyone going offshore to evade tax,” warns Exchequer Secretary to the Treasury David Gauke. “Get your tax affairs in order or face the risk of a penalty worth up to 200 percent of the tax evaded.” More…
Contractors invited to event on Employment Tribunals claims under the AWR
Contractors and recruiters seeking guidance on how Employment Tribunal claims are likely to be made and managed under the Agency Workers Regulations are invited to an event hosted by the Association of Recruitment Consultancies in London on 14th April 2011. The highlight of the event promises to be presentations by Craig Rob, Head of Employment Tribunals Service and a representative from the Department of Business, Innovation and Skills (BIS). More… [fees apply to non-members]
Contractors have deadline extension to comply with the new Bribery Act
Contractors have until 1 July 2011 to ensure their business activities comply with the Bribery Act. Originally due to come into force in April 2011, the enforcement date has been put back to allow businesses, including those run by contractors, three months to understand and act on new guidance issued by the Ministry of Justice. The guidance explains the new rules relating to everyday business practices, such as hospitality and ‘facilitation payments’. More…
Corporation tax common commencement dates will affect some contractors
Contractors are unlikely to be affected by the majority of this April’s round of common commencement dates, with the exception of the corporation tax rate reduction to 20% and the new requirement to pay corporation tax electronically from 1 April 2011. Contractors employing staff should be aware of changes to paternity leave, retirement and positive action in recruitment regulations.. More…
IT contractor skills shortages started as early as October 2010 reveals e-skills
Demand for certain IT contractor skills began to outstrip supply as early as the third quarter of 2010, reveals IT and communications skills council e-skills in its Quarter 4 2010 Labour Market Bulletin. The report confirms that, despite the still shaky economy at the time, the outlook for IT contractors was increasingly positive. For the first time since end-2008 “demand for ICT labour and skills in the UK was finally seen to outstrip (albeit fractionally) the supply of ‘ready candidates’ in the labour market.” More… [may require registration]