umbrella Articles

Self-employed contractors and umbrella PAYE employees had lots of reasons to cheer at this year’s party conferences.  We’ve highlighted some of the most important points that could affect our clients. 

As the party in government, what came out of the Conservative camp in Manchester will have the most immediate impact for our contractors.

David Cameron announced a relaxation of planning rules in an attempt to boost home ownership. Under the plans, builders would no longer be required to offer low-cost ‘affordable’ homes as part of new developments. More building work is always welcomed by construction contractors whether they are self-employed or PAYE.  

The UK has long been different in some respects. Take property, for example. While swathes of continental Europeans and indeed Americans have for decades happily rented their properties, our homes very much remain our castles. It’s a similar story when it comes to cars, with over a quarter of motorists in the States leasing their vehicles.

“The UK is now fast cottoning on to why car leasing is often the financially savvy option, though”, comments Lee Wolstenholme, Director of Manchester-based Vehicle Consulting, a broker with over 12 years’ experience. “Cars depreciate the minute they are driven off forecourts, so taking out a traditional loan to buy a new vehicle typically leaves motorists with a car or van that has lost value considerably after a few years. Leasing, on the other hand, means you can simply hand the keys back at the end of the contract and the vehicle’s value isn’t yours to worry about”, Lee goes on to explain.

Pay growth for IT contractors is outstripping increases in permanent salaries, a specialist technology recruitment firm has found.

Computer People’s latest IT Monitor report reveals that contractor rates increased by 3.9% between June 2014 and June 2015. That’s compared to average year-on-year salary growth in the permanent market of 3.01%.