Latest Contractor News
Keep up to date with all the latest contractor news. We have written everything in plain English, so there’s no need to go to the overly complex HMRC website to learn about any tax and accountancy related updates.
Employers need more forward-thinking approach to wage access
CloudPay: ‘Today, the workforce is waking up to the realisation that they are owed money by their employer and are becoming less willing to wait to be paid as a result’.
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Rates of pay slow, but remain strong
REC: ‘Overall activity levels remain high, with vacancies and starting rates of pay still growing. There is also plenty of demand for temporary workers, which is less affected by employer’s long-term confidence’.
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Majority of Brits get confused by financial jargon
Aviva: ‘We understand that financial matters can be puzzling and our research highlights exactly this. It’s easy to stick our heads in the sand and ignore something we find complex and confusing’.
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Freelancer confidence falls
IPSE: ‘Having endured a maelstrom of tax rises and worsening economic conditions, it is unsurprising to see that freelancer confidence continues to fall’.
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Fewer workers looking for a new job this year
Totaljobs: ‘The key factors impacting the recruitment market in the New Year include employees’ want and need for a higher salary to ensure their financial stability, coupled with a recession-fuelled hesitancy to change jobs’.
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Over half of UK workers expect a pay rise in 2023
CV-Library: ‘To expect a pay increase of more than 10% a year would have previously been a pipe dream or the result of a promotion rather than a realistic expectation but, it’s been 40 years since inflation has hit 11%’.
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Contractor rates of pay driven by competition and cost-of-living crisis
REC: ‘Temporary hiring accelerated again in the run-up to Christmas. There are clearly some seasonal factors at work here, but there may also be some switching to temporary going on, as firms maintain flexibility ahead of next year’.
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Off-payroll working rules report shows worrying results
APSCo: ‘The estimates from HMRC that around 250,000 workers have moved from being paid through their own PSC payroll to another organisation’s payroll between October 2019 and March 2022 is a concern’.
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