Contractor billings hit 5-month high despite severe staff shortages

The overall UK employment rate hit a record high this May with 75.6% of UK residents now in employment. According to the REC/IHS Markit’s Report on Jobs, these encouraging figures were reinforced by the 71.2% of women in employment, which is the highest percentage reported since records began. Equally, it was revealed 80% of men…

Contractor pay rates see sharp inflation

Across the UK, contractors and temporary staff are receiving notably higher pay rates. The REC disclosed that the steepest inflation in contractor pay rates recorded was in London. However, across the board, wages were continuing to rise, extending this trend to 62 months.   Contractor pay rates accelerating at an exceptional rate REC director of…

Spring Statement 2018: a summary for contractors

The Chancellor of the Exchequer, Philip Hammond presented his Spring Statement to Parliament on Tuesday 13 March 2018. Unfortunately, the contractor sector must wait a while longer for news on any potential IR35 changes. There is a lot of frustration within the industry as many publications are being waited upon.   What are we still…

Income Tax Rates and Allowances 2018/19 and 2017/18

As a contractor, it's important to know the rates and thresholds when operating payroll or calculating expenses and benefits. We cover the changes in income tax rates and allowances in 2018/19. You can also scroll down a little further to see the rates, allowances and duties for tax year 2017/18. Please click the drop-down options below…

HMRC wins first IR35 case in seven years against former BBC presenter Christa Ackroyd

Former BBC presenter, Christa Ackroyd has lost her legal battle with HMRC and is now facing a fine of £419,151 in outstanding income tax and national insurance contributions covering tax years: 2006/07 to 2012/13. This ruling made by the first tier tribunal (FTT) was based on the judgement that despite Ackroyd working through a PSC…

The Government’s new ‘Good Work Plan’ has been revealed

In response to Matthew Taylor’s Independent Review of Employment Practices in the Modern Economy in 2017, the government have revealed this week their new Good Work Plan that recommends new rights for the UK’s flexible workforce. Alongside further consultations on the future of the UK workforce, the government will also be looking to tighten penalties against…