Contractor Industry News

Contractor hiring hits all-time high in UK fintech sector

Posted on 27th May 2016

Umbrella company contractors will be interested to hear that demand for contract hiring has increased significantly among UK fintech companies.

According to recruitment finance provider Sonovate, job advertisements for contract roles increased by 64% quarter-on-quarter (QoQ) with roles being advertised at an average day rate of £430.

IT contractors will also be pleased to learn that the highest volume of postings were for IT positions, which saw a 35% QoQ rise and were advertised with an average day rate of £460.

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IT contractors in demand due to rise of Internet of Things

Posted on 25th May 2016

Organisations are being warned that there may be a shortfall of IT contractors across Europe due to the rise of the Internet of Things (IoT).

Professional Services consultancy Procorre, has warned that as the number of businesses outside the technology sector look to adopt IoT strategies, demand for skilled IT contractors has increased significantly.

Procurre has predicted that the surge in demand could end up outstripping supply across Europe in the next few months.

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Contractors remain confident despite predicting economy downturn

Posted on 23rd May 2016

Latest findings have revealed that despite a lack of confidence in the UK economy, many contractors are still positive with regards to their business outlook.

The national survey, carried out by the Association of Independent Professionals and the Self Employed (IPSE) revealed that over half (52%) of freelancers have a less confident outlook for the UK economy over the next 12 months when compared to last year.

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HMRC to rewrite contractor tax change legislation

Posted on 18th May 2016

Umbrella company contractors will be aware of the recent changes to the new travel and subsistence legislation put into place last month. Now, HMRC has admitted that this legislation will need rewriting after admitting getting the wording wrong.

From 6th April, travel and subsistence relief was restricted to many umbrella company contractors who’s working practices do not adhere to the ‘Supervision, Direction or Control’ rules.

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EU uncertainty increases use of contractors

Posted on 16th May 2016

Umbrella company contractors might be interested to learn that latest findings have revealed that uncertainty around the EU has resulted in high demand for contractors within PR and comms across the UK.

According to findings carried out by VMA group, there has been a significant rise in vacancies for short term contracts during the quarter of 2016, as businesses postpone taking on permanent staff until Britain’s position in Europe has been decided.

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Employers turn to contractors to provide a flexible resource

Posted on 13th May 2016

Good news for umbrella company contractors and freelancers, as latest findings reveal that those within the self-employed sector are in high demand across the UK.

The recent Markit/Recruitment and Employment Confederation's Report on Jobs revealed that contractor billings increased at the strongest rate in just over a year and vacancy levels rose at a slightly faster pace compared to March, whereas the rate of growth for permanent positions eased to a seven month low.

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Contractors contribute £109 billion to the UK economy

Posted on 11th May 2016

A recent report has revealed that contractors’ contribution to the UK economy soared to an incredible £109 billion last year.

According to findings from the Association of Independent Professionals and the Self-Employed (IPSE), this figure is just an estimate and so contractors might generate even more revenue overall.

The report found that in total there were 1.91 million people who were working as self-employed in 2015, which is a rise of 36% since 2008.

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Construction workers remain in demand

Posted on 9th May 2016

Umbrella company contractors trading in the construction sector will be pleased to hear that demand for specialists within the industry will remain strong.

Research carried out by rail and construction specialist, One Way, found that despite a drop in output, which is more than likely caused by uncertainty over the EU referendum and public spending cuts; demand for construction professionals should continue to remain stable over the coming months.

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HMRC to rewrite contractor tax change legislation

Posted on 6th May 2016

Umbrella company contractors will be aware of the recent changes to the new travel and subsistence legislation put into place last month. Now, HMRC has admitted that this legislation will need rewriting after admitting getting the wording wrong.

From 6th April, travel and subsistence relief was restricted to many umbrella company contractors who’s working practices do not adhere to the ‘Supervision, Direction or Control’ rules.

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Contractors contribute £109 billion to the UK economy

Posted on 5th May 2016

A recent report has revealed that contractors’ contribution to the UK economy soared to an incredible £109 billion last year.

According to findings from the Association of Independent Professionals and the Self-Employed (IPSE), this figure is just an estimate and so contractors might generate even more revenue overall.

The report found that in total there were 1.91 million people who were working as self-employed in 2015, which is a rise of 36% since 2008.

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Contractor numbers continue to rise across the UK

Posted on 3rd May 2016

Umbrella company contractors will be interested to learn that the number of self-employed has risen by an incredible 120,000 in the three months leading up to February 2016, compared to the same period last year.

These recent findings show that there are now 4.64 million self-employed people in the UK.

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UK chemical and pharmaceutical industry could create thousands of job opportunities

Posted on 29th April 2016

Umbrella company contractors might be interested to hear that a jobs boom has been predicted for the UK chemical and pharmaceutical industry.

According to recruitment experts, this sector could create thousands of new job opportunities over the next few years.

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Interim managers in high demand

Posted on 28th April 2016

The demand for interim managers is set to rise over the next 12 months, as the majority of CFOs and FDs plan to hire experienced contractors for their specialist skills.

The findings, carried out by Robert Half Management Resources, revealed that the majority of CFOs and FDs are looking for those who are highly skilled in project management and business transformation.

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Construction workers remain in demand

Posted on 26th April 2016

Umbrella company contractors trading in the construction sector will be pleased to hear that demand for specialists within the industry will remain strong.

Research carried out by rail and construction specialist, One Way, found that despite a drop in output, which is more than likely caused by uncertainty over the EU referendum and public spending cuts; demand for construction professionals should continue to remain stable over the coming months.

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Web developer contractors in high demand

Posted on 22nd April 2016

Umbrella company contractors with skills in web development will be pleased to learn that UK demand has risen considerably over the last few months.

According to recent research carried out by Sonovate, the demand for web developer contractors increased by 22% between Q4 2015 and Q1 2016.

The data revealed that postings for web developers in Q1 2016 were up 5% on Q4 2015, PHP developers 25%, front end web developers 27%, web application developers 127%, senior web developers 84% and website developers 206%. 

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UK car manufacturing sector grows significantly

Posted on 20th April 2016

Umbrella company contractors working within the car manufacturing sector will be pleased to hear that production has seen significant growth, which could in turn result in new opportunities for contractors working within the sector.

Figures released by the Society of Motor Manufacturers and Traders (SMMT) have revealed that British car manufacturing achieved another month of strong growth in February with output up 13.1%.

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Demand rises for IT professionals within financial services sector

Posted on 18th April 2016

IT contractors with cyber security skills will be pleased to learn that they could experience high demand from the financial services sector.

Research, carried out by Giant Group, found that IT professionals expect the financial services sector to be one of the biggest providers of job opportunities over the next 12 months.

Contractors will also be interested to hear that the report found the average number of days between assignments is shrinking, with 77% of professionals expecting remuneration to rise over the next year. 

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Contractor billings rise at fastest pace in four months

Posted on 15th April 2016

Umbrella company contractors will be pleased to hear that recent findings have revealed positive news for the contracting community.

The Recruitment and Employment Confederation (REC) / Markit’s latest Report on Jobs has found that contractor billings have risen at the sharpest pace in four months.

It has also been reported that hourly rates of pay have increased at the sharpest pace in three months.

Looking at a regional analysis, growth of contract / temp billings was broad-based across the English regions, with the Midlands posting the biggest increase. 

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Labour market sees significant jobs growth across the UK

Posted on 13th April 2016

Umbrella company contractors might be interested to learn that the UK labour market has experienced a 15% rise in job vacancies during Q1 2016.

The report, which has been carried out by CV-Library, compared its job site data from Q1 2016 to data from Q1 2015 and revealed that growth was reported in a number of key sectors, up and down the country.

The sectors and cities to experience the strongest job growth in Q1 2016 include:

 

Sector

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IT contractors could benefit from confidence within Scottish digital technologies industry

Posted on 11th April 2016

IT contractors may be interested to learn that Scotland’s digital technologies industry experienced strong growth in 2015 and confidence remains high for the year ahead, which could result in increased job opportunities.

The Scottish Technology Industry Survey 2016, carried out by ScotlandIS, revealed that 68% of businesses achieved sales growth in 2015, with over a quarter reporting an increase in turnover of 20% or more. 

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Contract vacancies remain resilient

Posted on 8th April 2016

Umbrella company contractors will be pleased to hear that contract vacancies remain resilient, despite the fact that the UK’s economic growth forecast has been cut by the BCC amid EU uncertainty.

Recent findings from the Association of Professional Staffing Companies (APSCo) have revealed that opportunities within the professional staffing market are up 7% across the board year-on-year.

Vacancies within the financial services are especially strong, rising by 85%.

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More UK students turn to contracting

Posted on 8th April 2016

Latest findings have revealed that more and more students are turning to the world of contracting alongside their universality studies.

According to research carried out by PeoplePerHour, which surveyed 1,549 new business founders, in the last year the UK has seen a 42% rise in the number of UK students earning money through contracting.

The data found that the majority of student entrepreneurs were contracting due to a lack of job security (61%) and to help with their student debts (49%).

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Many contractors turn their hobbies into a successful career

Posted on 6th April 2016

Recent findings have revealed that many contractors are turning their passion for a hobby into successful money-making careers.

A recent report carried out by Weebly has found that as many as two-fifths of UK contractors have said that they’ve turned to self-employment due to using their hobby.

According to the report, almost 90% of those working as self-employed said that Britain was the perfect place to start up a new venture and 80% said that they were optimistic about their future prospects.

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Cyber security skills in high demand

Posted on 5th April 2016

Umbrella company contractors with experience in cyber security will be pleased to learn that these skills are in high demand.

Findings from the latest Professional Recruitment Trends report, carried out by the Association of Professional Staffing Companies (APSCo), have revealed great news for IT professionals, revealing that demand for cyber security grew by almost 70% between 2012 and 2015.

This is 40% higher than the overall growth rate for IT professionals.

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Contractor vacancies on the rise, outstripping permanent roles

Posted on 4th April 2016

Umbrella company contractors will be pleased to hear that latest findings have revealed contract vacancies outstrip those for permanent roles.

Recent survey data from the Association of Professional Staffing Companies (APSCo) have revealed that both contract and temp vacancies have increased across the professional staffing market, with opportunities up by 6% year-on-year. 

In comparison, permanent vacancies increased by just 2% year-on-year.

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Umbrella Expense Changes from April 2016

Posted on 4th April 2016

From 6th April 2016 HMRC will assume that, if you provide your services through an agency, umbrella company or your own limited company, you are subject to supervision, direction or control, (SDC), or the right of SDC and:

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Contractor cyber security skills in high demand

Posted on 1st April 2016

IT contractors will be pleased to learn that those with cyber security skills are the most sought after within the UK’s growing jobs market.

Latest research from recruitment finance provider Sonovate has revealed that overall growth for contractor cyber security roles has reached a year-on-year high of 19%.

This level of demand is expected to grow even more by up to 30% over the next year.

According to the recent finings, the highest month-on-month demand is for consultants (52%), network security engineers (26%) and analysts (24%).

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REC calls for more women in engineering

Posted on 31st March 2016

The Recruitment and Employment Confederation has called for more encouragement of female engineers, in order to prevent a skills shortage crisis within the sector.

Latest findings have revealed that 54% of engineering recruiters believe that skills shortages have become more apparent in the last 12 months, and a further 28% say shortages are just as bad as they were a year ago.

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Self-employed have higher job satisfaction than permanent workers

Posted on 29th March 2016

Findings from a recent survey have revealed that self-employed professionals across the UK have reported a much higher satisfaction in their job compared to those working in full-time roles.

The Bright Blue survey, which was based around those in self-employment who are on a low income, found that as many as 80% of contractors are happy with their working life, compared to just 74% of full-time employees.

A 'low income' refers to having an equivalised gross household income below 60% of median household income.

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ContractorUmbrella Contractors: Claiming expenses post April 2016.

Posted on 24th March 2016

Following a year of alleged “consultation” just one paragraph in the Budget 2016 Red Book that confirms the Government’s intention to restrict the availability of tax relief for travel and subsistence expenses where services are provided through an employment intermediary, generally regarded as recruitment agencies, umbrella companies and PSCs.  Here’s the solitary paragraph:

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