A recent survey has revealed that a large proportion of IT contractors are taking home an average annual IT salary in just three months.
The findings, compiled by Qudos Contractor, show that 40% of the 711 IT contractors surveyed have a day rate of £500+, with 8% saying that they take home £700+ a day.
A recent survey has revealed that despite technology allowing us to work anywhere we want, the majority of contractors prefer to split their time between working remotely and onsite.
The research, carried out by Qdos Contractor found that of the 716 UK freelancers and contractors surveyed, as many as 67% preferred a combination of working on a client’s site and working remotely.
Twenty-five per cent favour spending their working days purely onsite and just eight per cent would rather work completely remotely.
Positive news for the contracting sector comes from the most recent Markit / Recruitment and Employment Confederation report, which has revealed that billings have increased at the fastest rate for two-and-a-half years.
The latest Report on Jobs also found that hourly pay rates continued to increase sharply and it was the Blue Collar sector that recorded the quickest upturn in demand of all nine job categories in July. Hotel & Catering and Nursing/Medical/Care also saw steep increases in demand.
Umbrella company contractors working in the automotive industry will be pleased to learn that the sector has been experiencing significant growth in job opportunities.
The recent report, carried out by Recruitive, found that there was a continued rise in the number of automotive job roles advertised during September.
Earlier this year, a report published by SMMT revealed that UK car production achieved a 17-year high in 2016 – with the trend clearly continuing this year and opening up further opportunities for those working in the sector.
Umbrella company contractors working in the manufacturing sector will be pleased to hear that the industry has been boosted by near survey-record growth of new export orders.
The IHS Markit / CIPS UK Manufacturing Purchasing Managers’ Index (PMI) found that the rate of improvement in UK manufacturing operating conditions accelerated for the first time in three months at the start of the third quarter.
Umbrella company contractors might be interested to learn that average advertised vacancies reached a 19 month high, which is the highest number recorded in nearly two years.
According to the Adzuna.co.uk report, average salaries in London have shown a 0.2% rise – the first annual increase since July 2015 and Winchester has become one of the best cities to find work with its improved jobs market.
Umbrella company contractors are experiencing a higher rate of pay and longer assignments, finds a new survey carried out by the Freelancer & Contractor Services Association (FCSA).
According to the trade association for professional employment services, more high-end professionals are now adopting umbrella working.
Comparing umbrella working in 2015 to 2017, the key findings revealed:
Simon Dolan, the founder behind the UK’s largest firm of contractor accountants and owner of ContractorUmbrella, has made a return to the accountancy industry he knows so well. Simon entered the market back in 1992 and revolutionised the contractor accountancy market.
The business, which began with a £10 shop window advert in 1992 grew to become the UK’s largest specialist firm of contractor accountants and was the only UK top 25 accounting firm to be owned by an individual rather than a partnership. Simon sold the successful business three years ago for over £80million.
Umbrella contractors working in the construction sector will be happy to hear that the industry is experiencing a move in the right direction after a negative month in May.
The recent Economic & Construction Market Review from industry analysts Barbour ABI revealed that contract awards increased by 12% across all regions of the UK, which totalled £5.5 billion based on a three-month rolling average – an increase on the £4.9 billion from May.
Umbrella company contractors may be interested to learn that a new study has revealed Southampton to be the UK's top city for those in the contracting sector.
The 'Definitive Study of the Self-Employed' report carried out by Inuit Quickbooks, questioned 5,010 self-employed people across the UK on issues including working hours, income, holiday and general life satisfaction.
The analysis revealed Southampton to be the top city, followed by London, Edinburgh, Brighton and Sheffield.
A recent report has revealed that there are as many as 68% of 18-54-year-olds who are looking at leaving their current roles to become self-employed.
According to the survey compiled by World Options, of the 68%, 19.5% dream of working for themselves, 16.5% are putting the plans into motion and 31.5% are interested in joining the contracting workforce.
Twenty-two per cent anticipate that they will be self-employed within the next five to 10 years.
A recent survey has discovered that as many as 72.4% of IT contractors would prefer a ‘soft Brexit’ whereby the UK stays in the single market and freedom of movement is retained within the UK.
The ClearSky Accounting research confirmed that of the 300 IT contractor surveyed, less than a quarter believe that the government will be supportive.
Umbrella company contractors might be interested to hear that there have been calls for increased support for contractors working in creative industries.
The recent report published by the Creative Industries Federation has called for a number of key supports for those who are creative self-employed workers, with the IPSE (Association of Independent Professionals and the Self Employed) agreeing with the points made.
IT contractors might be interested to find out that the increasing rise of Industry 4.0 has resulted in a growing demand for technology professionals with the right skills.
The research carried out by 1st Executive, compared client job specifications from the same period a year ago and revealed that UK businesses are showing more and more interest in IT professionals, in particular for their skills that can be used within the supply chain.
Umbrella company contractors might be interested to learn that the Supreme Court has ruled against ‘unlawful’ employment tribunal fees.
The fees that were introduced four years ago mean that the government must now refund a reported £32 million to claimants due to a legal battle launched by trade union Unison that was based on the fact that the fees were preventing workers from getting access to justice.
Umbrella company contractors will be pleased to learn that more UK employers are becoming reliant on contractors and temps due to skills shortages.
The latest JobsOutlook report carried out by the Recruitment & Employment Confederation (REC) revealed that as many as 45% of UK employers are expecting a shortage of suitable candidates over the next 12 months.
New research has revealed that a high percentage of IT contractors are choosing to carry out work in the private sector instead of the public.
With changes to IR35 rules meaning that IT contractors in the public sector are now being taxed like employees, more and more self-employed workers are turning to the private sector for their contracts.
According to the research from CW Jobs, as many as 71% of the 1,000 IT contractors surveyed said their take home pay had decreased because of IR35 changes – 29% experienced an 11-20% reduction in income and 27% a 21-30% decrease.
Just a couple of months ago, the IPSE called for a statutory definition of self-employment in order to ‘end confusion and ensure working for yourself is viewed as a positive, valuable way of working’.
This was in response to the Matthew Taylor Review of Modern Working Practices. At the time this was briefly put on hold due to the snap General Election, but the report has now been released.
With the recent Matthew Taylor Review on Modern Employment Practices looking at the ‘implications of new forms of work on worker rights and responsibilities, as well employer freedoms and obligations’, the IPSE is clear on the fact that they do not want the results to impact self-employed worker’s flexibility in any way shape or form.
This response has come after Deliveroo’s submission to the review, with plans to provide greater protection to riders.
The number of enquiries for umbrella companies has more than doubled compared to just a few months ago, with the recent changes to employment status checks thought to be the reason behind this surge.
The findings, from Parasol Group have revealed that enquiries have increased by an incredible 76% since Q1 2017 – going from 4,473 to 7,916.
Umbrella company contractors might be interested to learn that the Freelancer & Contractor Services Association (FCSA) have responded to the sector coming under attack from the teaching sector.
Umbrella firms have come under fire from representatives of the teaching profession with the FCSA pointing out that criticisms towards umbrellas are usually based on a misunderstanding about tax, employment costs and the way in which pay is calculated.
IT contractors will be interested to learn that there is a large demand for highly skilled IT professionals, particularly within Greater London.
According to the research carried out by the Association of Professional Staffing Companies (ASPCo) and Vacancysoft, IT experts accounted for 28.4% of all vacancies advertised over the last two years.
The recent data revealed that the Marketing and PR sector also saw a rise in demand with the Technology and Media & Telecoms sectors being the roles most sought after within the industry.
Working from your local coffee shop might ring true for many umbrella company contractors, as new research shows a surge in the number of people choosing the 'coffice' as their go-to place to work.
According to the data compiled by MyVoucherCodes, there are now four out of five Brits regularly carrying out work from a coffee shop – this includes contractors, freelancers, business owners and permanent workers.
The findings show that 56% of those surveyed work from a coffee shop on a weekly basis, and the average time spent working there is an hour and a half.
Latest research has revealed that employer confidence in the economy has strengthened following a fall from the EU referendum result last year.
According to the recent JobsOutlook survey by the Recruitment & Employment Confederation (REC), of the 607 employers questioned, many are very optimistic with regards to their own company’s hiring and investment decisions, with a net balance of +18% saying they expect it to improve.
This is of course positive news for self-employed and permanent workers alike, as more employers will look to hire those with the right skills.
Umbrella company contractors might be interested to hear that the number of marketing opportunities increased by as much as 6.9% in the 12 month period ending May 2017.
The latest Marketing Trends Report from the Association of Professional Staffing Companies (APSCo) found that Branding specialists saw the biggest increase in the number of roles, with a 36.4% increase in demand. However, Professional Marketing continued to be the greatest area of growth accounting for 19.6% of all new vacancies.
Umbrella company contractors might be interested to learn that a new campaign has been launched to encourage more female contractors to join the engineering sector.
With nearly 2,000 female contractors working in different sectors within Morson International, its campaign is looking to double its current number of self-employed female engineers by 2020.
According to the findings, the number of females working within the engineering industry makes up less than 10% of the workforce.
Latest research has found that there has been a 15% month-to-month increase in the number of professional job opportunities nationally during May.
The findings, carried out by Morgan McKinley, found that there is strong demand for recently qualified accountants, tax consultants and candidates with between two and three years of experience looking to specialise in more niche areas.
Umbrella company contractors will be interested to learn that a new survey has revealed that contracting and freelancing has a 'significantly positive' effect on well-being.
The report, compiled by the Association of Independent Professionals and the Self Employed (IPSE) surveyed just over 1,000 self-employed workers, finding that as many as 84% are 'very satisfied' with their contracting career.
Comparing these findings to a recent CIPD report, only 64% of employees felt the same way.