Online job demand increases across most contracting sectors
This month’s Monster Employment Index shows an increase in online demand in every sector of contracting, except construction. Overall, demand has grown by 2% on last month’s index and up 15% year on year. And even construction’s exclusion from the ‘increasing demand’ list is not all bad news, as rather than construction’s customary monthly decline, demand was simply flat. Warning against over-optimism, Monster UK & Ireland MD Julian Acquari says: “Overall, the outlook for the UK economy remains cautious, with unemployment and job creation trends still tenuous.” More…
PCG publishes online guide to managing contractors
As part of its ‘Britain’s Brain Gain’ campaign, PCG (formerly Professional Contractors Group) has published a free online guide to help clients commission and manage contractors. PCG’s MD John Brazier says the guide is “…the first in a series of educational resources designed to help the marketplace maximise the benefit of the flexible working model.” More…
Updated interactive tax and financial calculators online now
Available for contractors to use since the start of the new tax and financial year, and all including the latest 2010/11 tax data, are more than 30 comprehensive online interactive tax and financial calculators from ContractorCalculator. These can help contractors better understand the implications on earnings of the new higher rate of tax on dividends and salaries. But according to ContractorCalculator CEO Dave Chaplin, more changes are predicted: “We know National Insurance Contributions (NICs) are set to rise in 2011, and we anticipate another Budget shortly after the election – whoever wins. We can confidently predict that will include extra taxes, which means more contractor tax hikes to come.” More…
Online contractor accountants evolving new service offerings
Advances in processes and technology investments by online contractor accountants mean that contractors can be signed up to a new accountant in a fraction of the time it used to take, including identity checking for money laundering regulations, and can manage multiple directors and shareholders online using a single system. Crunch MD Darren Fell predicts that “…processing accountancy and tax affairs online will rapidly become the norm for all professional contractors.” More…
Springboard Umbrella challenges timesheet levies
Some contractors may be indirectly paying an even greater margin to agencies that have found them contracts. It has been reported that certain agencies have been insisting on what are becoming known as ‘timesheet levies’, where an umbrella company pays an agency for contractors the agency has put their way. Marcus Glover of Springboard Umbrella, which he says has been experiencing difficulty with some agencies because it refuses to pay timesheet levies, urges all umbrella company contractors told to use a specific umbrella company by their agency to ask why, and to ask if their umbrella is paying the agency for their business. More…
Business prices inflation threatens ‘double-dip’ recession
Contractors hoping to increase rates in 2010 as business inflation increases have been warned that business prices inflation could damage the economic recovery. The latest Business Trends Report by BDO shows prices have reached levels last seen in December 2008, but such inflation could knock the economy back into a ‘double-dip’ recession. Electioneering is said by BDO to be partly to blame. “At the moment, pre-election politics run the real risk of setting the whole economy off course,” explains BDO’s Alex White. More…
Financial recruiter forecasts City jobs increase
IT contractors hoping for a City rebound this year to secure their contracting fortunes may get their wish, according to financial recruiter AstburyMarsden. It forecasts that City vacancies will rise by 26% in 2010. This supports figures released in last month’s Morgan McKinley London Employment Monitor, which showed an increase in opportunities of 60% year on year. Increased activity in London’s financial centre improves the fortunes of the estimated 35% of IT contractors working in London. AstburyMarsden’s COO Mark Cameron says: “With the sharp upsurge in vacancies, caution amongst employees seems to be coming to an end.” More…
Parties put their cards on the table… well, almost
This second week of the election campaign promised much but offered little. With the launch of the manifestos of the main political parties, not to mention the UK’s first-ever televised election debate amongst party leaders, it might have been hoped that some clarity would emerge. But despite all the ‘noise’, there has been little transparency about just how the parties plan to get the economy and country back on track. Or, more importantly, how they intend to pay for it whilst at the same time reducing the UK’s deficit. More…