Your monthly round-up of September’s top contractor news.
A number of contractors who took pat in freelance work in the UK via offshore vehicles are being approached by HMRC, which is hitting them with UK income tax assessments designed to boost its low yield from such Employee Benefit Trusts.
To advisers have confirmed that the tax assessments, from between 2008-2010, are being received by UK based contractors due to their use of an EBT from Sanzar Solutions.
The first in a line of good news for contractors this month, as it was revealed that contractors will benefit from greater representation, an elevated media profile and new membership benefits as a result of a new PCG strategy.
The Professional Contractors Group is implementing a fresh strategy, as they see freelancers and contractor as a vital element of the UK’s economic recovery.
BIBA says that it will give more consideration to developing and producing a code of conduct, after a strategic review found that members would like the association to ‘play more of a role in driving up the level of professionalism’.
Whilst it may be news from across the pond, it’s great to hear that freelancing jobs are becoming more desirable. It’s a bit of a sweeping generalisation to say that what happens in America will happen over here, but hopefully it will be a sign of things to come in the UK too.
Apparently 30% of the US workforce is freelance, totaling a massive 42 million workers.
Good news for the sector, as it has been revealed that contractors now help 79% of the UK’s client and employer organisations to meet strategic objectives.
The report brings more good news; as over a third of clients plan to increase their contractor use over the next quarter, showing a hugely positive change in the sector.
New figures released this month revealed that an increased focus on small and medium-sized businesses is proving fruitful for the Revenue’s teams, with overall investigation income from SMEs up to £565m in 2012-2013. This was up from £434m from the previous year, totalling a rise of 31%.
Results were released this month, revealing that during August 2013, contractor demand reached its highest level since December 2000. This saw the fourth consecutive month of growth in the industry, and agency billings grew at the strongest rate in fifteen y