Weekend Reading 13/04/18

Weekend Reading

It’s that time of the week again. See below for a few stories to read curled up by the fire / sitting out in the porch (delete dependent on weather) this weekend. We’re taking a look at the automotive and oil and gas industries, amongst a few others:

Jaguar Land Rover ‘to cut 1,000 jobs’ in Solihull

“Jaguar Land Rover is to shed 1,000 jobs and cut production at two sites, according to reports.

The carmaker said it would make an announcement to employees on Monday regarding its production plans for 2018/19.

It added: “In light of the continuing headwinds impacting the car industry, we are making some adjustments to our production schedules and the level of agency staff.”

Oil dives as the West hints at no further Syria strikes

“The price of oil fell sharply on Monday as traders started to see a decreased likelihood of further escalation between Western powers and Syria, following Friday night’s air strikes on the conflict-stricken nation.”

Landowners and contractors urged to have suitable agreements to avoid disputes

“Landowners and contractors are being urged to ensure they have suitable agreements in place before work commences on farm, to avoid insurance shortfalls and disputes in the future.

The plea follows an increasing numbers of landowners contracting their farm-operations, and more farmers taking on contract work to maximise investment in technology.

Agriculture insurance broker Farmers & Mercantile said it is essential to understand the point where the insurance liability passes from landowner to contract farmer.”

Treasury ramps up the pressure on contractors’ tax

“It is never a good idea to name a complex tax provision after the press release that announced it. But that is the fate of IR35 — the attempt by Gordon Brown in his 1999 Budget to “prevent individuals avoiding income tax by providing personal services through intermediaries, such as service companies”. The Treasury predicted the full-year yield would be £350m in extra tax revenues.”

“Clients should learn from Carillion’s failure and be alert to any signs of contractor “distress”, a market analysis report has warned.

Regional inflation forecasts suggest tender prices will rise slowly across the UK this year and there is a developing trend towards single stage contracts, a report by Turner & Townsend said.

The UK Market Intelligence Report recommended that clients “monitor, support and collaborate with their suppliers in equal measure.”

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