Travel and subsistence changes for contractors – what do they mean?
April 6, 2016 @ 3:32 pm by Damian Broughton MBE
There has been a wealth of discussion about the impact of changes to travel and subsistence expenses for contractors. From April 6, 2016 certain temporary workers can no longer claim tax relief or disregard National Insurance contributions (NICs) on the travel and subsistence expenses they incur on an ordinary commute from home-to-work.
These new regulations will affect workers employed through an employment intermediary, such as an umbrella company (a company employing workers and supplying them to business), a personal service company (PSC) or a recruitment agency/employment business.
Here we outline exactly what …Read More
How do recruitment agencies manage risk following changes to contractor rules?
March 30, 2016 @ 12:48 pm by Damian Broughton MBE
The Government has unveiled a raft of new measures that target contractors, self-employed people, temporary workers, freelancers and personal service companies in recent months and many of these will come into effect within the next few weeks.
I’ve spent the past few months visiting recruitment agencies, staging events to help them prepare and developing a range of resources to equip them with the knowledge and skills they need to adapt to these changes.
However, with the UK being home to around 30,000 recruitment agencies, I’ve only scratched the surface and I’m concerned …Read More
Are umbrella companies dead?
March 24, 2016 @ 3:55 pm by Damian Broughton MBE
Following the tax crackdowns unveiled by the government which target contractors, self-employed people, temporary workers, freelancers and personal service companies (PSCs), speculation has been rife that this spells the end of umbrella companies.
While some umbrella company models may no longer be sustainable, the reality is that the umbrella company model still has many benefits for most self-employed people. A quality umbrella company, or Employment Business, provides a wealth of support for contractors and these will continue to outweigh the impact of Government changes.
Both recruitment agencies and contractors are rightly concerned …Read More
Budget Overview – Good news for small business but contractors are still hit
March 17, 2016 @ 3:13 pm by Damian Broughton MBE
In the build-up this was billed as George Osborne’s “most boring Budget” as few expected any major changes. In the end, it failed to deliver any major surprises but did have a few key points that recruitment agencies and contractors alike should take note of.
Overall, the Budget was good for small businesses and contractors, self-employed people, freelancers and temporary workers all had something to celebrate. However, changes to the way Personal Service Companies (PSCs) in the public sector operate and confirmation that new restrictions on travel and subsistence claims will …Read More
How will the National Living Wage affect contractors and recruiters?
March 1, 2016 @ 1:38 pm by Helen Broughton MBE
Much has been said about the arrival of the new Living Wage in April – most of it negative and highly controversial. Granted the move could have an impact on contractors and recruitment agencies alike, but with proper preparation and by drawing on the expertise of trusted partners, the move should bring benefits for most.
In recent weeks some have claimed the new Living Wage will send “shockwaves” through recruitment agencies as businesses scale back on recruitment plans while the CBI went as far as saying the Chancellor was gambling on …Read More
Self-Employment Review shows power of contractor sector
February 23, 2016 @ 12:09 pm by Damian Broughton MBE
The recent Self-Employment Review commissioned by Prime Minister David Cameron and carried out by Cambridge Satchel Company entrepreneur Julie Dean should be welcomed. It is a vital document for demonstrating the importance of the UK’s 4.6 million contractors, freelancers, temporary workers and self-employed people and includes a series of valuable recommendations that should be acted upon by Government immediately.
However, the document also raises some serious questions and misses some key points. The most disappointing aspect of the report is that taxation was beyond the review’s scope. Despite this, it did …Read More
What does the UK skills shortage mean for recruitment agencies?
February 16, 2016 @ 5:12 pm by Damian Broughton MBE
The biggest concern I hear from recruitment agencies is the growing skills crisis facing UK Plc today. Agency heads tell me the number of job opportunities continues to increase, but the skills shortage means there isn’t enough talented people to go around.
These experiences have now been supported by the UK Commission for Employment and Skills (UKCES) whose eagerly-anticipated Employer Skills Survey has revealed that almost 1 in 4 jobs now goes unfilled due to a lack of skilled workers.
Worringly, the survey also shows that the skills shortage has more than …Read More
What does the UK skills shortage mean for contractors?
February 9, 2016 @ 1:10 pm by Damian Broughton MBE
It’s no secret that UK PLC is at crisis point when it comes to skilled workers. Our key industries are on red alert with more than 200,000 unfilled skilled vacancies. We don’t have the expertise we need and there are now swathes of initiatives battling to reverse the decline in our skilled workforce. However, for contractors, freelancers, self-employed people and temporary workers this presents a major opportunity.
A new survey by the UK Commission for Employment and Skills (UKCES) has painted a bleak picture. The major survey, which polls more than …Read More
When and how much do I get paid as a self-employed person?
January 26, 2016 @ 10:55 am by Damian Broughton MBE
When working as a self-employed person, a contractor, sole trader, freelance worker or when running your own limited company, getting paid does not have the same certainties as being an employee.
For many, the thought of understanding when payments are made and managing pay from multiple employers can be daunting. Also, the challenge of maximising the amount you take home while also planning for the worst case scenario can feel overwhelming.
Most people rely on a regular paycheck to manage their finances and attempting to streamline pay from different contracts with varying …Read More
How do I improve my career prospects as a self-employed person?
January 19, 2016 @ 1:29 pm by Damian Broughton MBE
Working as a contractor, freelance worker or self-employed person is a great way to enhance your CV and advance your career. By taking on a variety of roles, you rapidly broaden your skills and experiences and develop new ways to overcome challenges.
Businesses need your expertise and insights and working in a different environment ensures you become highly skilled at delivering solutions in every situation.
However, while career paths in corporate environments are usually clearly defined, working as a contractor means your prospects are entirely in your hands. That can mean you …Read More