Following the Budget in June 2010, the Chancellor of the Exchequer George Osborne announced that there would be a pay freeze on public sector salaries exceeding £21,000. Research undertaken by the Institute of Payroll Professionals shows that this decision could have a negative effect on the public sector.
Following an increase in the number of limited companies becoming insolvent, accountants have been warned to be more aware of the financial health of their clients to avoid being blamed for the insolvencies. This follows a recent spate of limited companies facing insolvency and blaming their accountants for poor advice.
Civil engineers, including engineers working under an umbrella company, have experienced a minor increase in available work since the new coalition government came into power in May 2010. However, experts at Civil Engineering Contractors Association (CECA) have predicted that work will reduce as the public sector spending cuts take hold.
Agency Workers Regulations – A near impossible challenge requires a near impossible solution, but we’ve done it before
Earlier this year the new rules for the Agency Workers Regulations were finalised and now we’re left with valuable preparation time building up to their implementation. However, it’s important to remember that these regulations do not come [ Read more ]
As the coalition government reached its 100th day on 18th August 2010, the Recruitment and Employment Confederation (REC) has looked at what has been achieved so far. The REC agrees with action taken by the government so far, but urges them to take action regarding the impact of regulations on jobs and taxation.
The Office [ Read more ]
In August, Jobs Outlook, a monthly survey carried out by the Recruitment and Employment Confederation (REC), showed that whilst certain areas in the private sector are showing growth and confidence, the public sector displays a growing uncertainty.
According to the Jobs Barometer, part of the monthly survey, July showed decreased employer confidence following a five [ Read more ]
Bonus payments paid to contractors could trigger an investigation by HM Revenue & Customs (HMRC) into your employment status. Bonus payments are seen as signifying employee status, which could lead a contractor who is genuinely outside IR35 legislation into an investigation.
It is possible to receive bonus payments and stay outside IR35, but the wording [ Read more ]
Contractors who don’t conform to the current IR35 legislation in the belief that it will be repealed have been warned they may face huge penalties plus interest. The Office of Tax Simplification is set to review the legislation but until any changes are announced formally it is essential that contractors keep all relevant paperwork to show that they are outside IR35.
A survey carried out by Randstad has shown that the UK workforce, including umbrella company contractors are now working harder than ever with little free time. Randstad carries out the work monitor survey quarterly and the second quarter results shows that 67 percent of the workforce in the UK considers their workload to have increased. A further 40 percent struggles to organise time off for leisure.
The latest Construction Trade Survey published 9th August 2010 has shown that construction industry contractors may face a decline in work over the latter half of the year. A reduction in work for civil and building contractors during the first six months of the year combined with public sector spending cuts has signified a further reduction in work this year which could also have a bearing on umbrella company contractors.