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UK Skills Shortage

Posted 16-01-2014 by Ifan

As the British economy continues to recover, many industries that were previously faced with a job shortage are now having to deal with a skills shortage. This stark change will benefit contractors in many sectors, particularly those working in IT, for years to come as industries compete to make their vacancies as enticing as possible.

In the case of IT, the surge in new positions is not simply due to the new economic climate, but also due to a requirement for expertise in new IT channels, such as cloud and mobile software, as well as a renewed awareness of the importance of cyber-security (in light of the recent spree of cyber attacks and NSA scandals). Skills for these roles in particular are in short supply, and so salaries for such positions are expected to rise by at least 4% this year, compared to the national average of 2.5%.

This is according to Robert Half Technology’s ‘Salary Guide’ for 2014-2015. Contractors with skills in security, cloud operations, data analysis, e-commerce and mobile will not only find an abundance of contracting opportunities in 2014 but also lucrative pay rates. Having to decide between multiple lucrative contracting positions – what a wonderful problem to have!

Christmas Updates

Posted 17-12-2013 by Ifan

Express Payments over Christmas

Our Express payment service which gets payment to you by 1pm will not be available during the Christmas Period (27 December – 31 December).

We will process Express Payments again from Wednesday 2nd January 2013.

Christmas Opening Hours

The office will be closed from the 27th of December until the 2nd of January 2014 for phone and expense processing.

Payments will be made on 24, 27, 30, 31 December providing cleared funds reach our bank account by 11.00am and are accompanied by a remittance advice.

Expense Receipts for payments during the Christmas Period

Please send any receipts, and enter corresponding claims, to reach the office by 18 December for expenses to be included on payments between 23 December and 2 January 2014.

Thank you for your support in 2013 and we look forward to working with you in 2014!

UK Recruitment to top pre-recession figures by the end of 4th quarter of 2013

Posted 06-11-2013 by Ifan

UK Recruitment to top pre-recession figures by the end of 4th quarter of 2013

There have been many signs that our economy is on the mend this year, but no signs have been more affirming than recent figures indicating that the recruitment industry is not only thriving, but is set to improve upon pre-recession figures. According to the Recruitment and Employment Confederation’s (REC’s) latest survey, recruitment industry turnover reached £26.5 billion in 2012/13, while growth jumped to 3.1% since 2011/12. Assuming that this trend continues, growth for the industry will increase to 7.3% by 2013/14, 8.3% in 2014/15 and 9.6% in 2015/16. This is a most reassuring improvement over British recruitment industry’s pre-recession peak of £27 billion and achieve a turnover of £28.5 billion by the end of March next year.

The 2012/13 market value of £26.5 billion is comprised of £24.1 billion (91%) from temporary/contract business and £2.4 billion (9%) from permanent recruitment activity. The year-on-year increase in revenue exceeds the 2% growth predicted. This has been achieved via a 12% increase in permanent recruitment volumes and a 2% increase in temporary and contract staffing volumes.

Other key findings from the Recruitment Industry Trends Survey 2012/13 include:

  • The percentage of job-hunters who secured permanent positions through recruitment agencies rose by 12% in 2012/2013 compared to 2011/2012.
  • The previous headline of mass unemployment that has characterised the recession has been replaced with the issue of skills shortage due to the rapid increase in vacancies – what a wonderful problem to have!
  • There are 1.1million agency workers fulfilling temporary roles in workplaces across the UK at any time, about 4% of the total workforce. On average, each consultant working in temp/contract staffing had 32 people on assignment on any given day.
  • Headcount within the recruitment industry increased by just 0.9% to 93,610. This marks the third consecutive annual increase in the number of people working in the recruitment industry, but the new total is still below the pre-recession figure of 108,833 in 2007/08.
  • Commenting on the report, REC chief executive Kevin Green says:
    “The year to April 2013 saw growth for both temporary and permanent recruitment, with the temporary/contract market achieving its highest annual turnover since records began.
    “Recruiters are resilient and in difficult times have been working harder to deliver more for less, to cost-conscious clients. We’ve seen the market mature, with consolidation by large and medium sized businesses acquiring smaller operators, and the remaining small agencies have had to carve out specialist niches in order to survive.

    “As the recovery gathers pace, the difficult restructures that firms have put themselves through, including significant numbers of branch closures, could begin to deliver impressive dividends. As revenue grows, efficiencies will deliver margin improvements and increased profit. This is why we have upgraded our growth forecast to 7.3% by the end of this year and are predicting even greater acceleration in the following two years.”

    We at Redego Umbrella welcome this latest trend and hope that British employment will continue to prosper.

    Redego Vetted and Accepted on Umbrella Compare’s Top 10 Umbrella Companies!

    Posted 04-11-2013 by Ifan

    Redego Umbrella has been accepted onto Umbrella Compare’s list of top 10 Umbrella Companies as a HMRC compliant service with a track record for providing contractors with an efficient and accessible solution.

    We at Redego are excited about the creation of this new web site and hope that it will continue to provide contractors with a list of fully compliant payroll solutions.

    If you currently use or have used Redego Umbrella, we would be most grateful if you could provide feedback.

    New Deals for Contractors

    Posted 17-07-2013 by Ifan

    The heat must have got to us here at Redego – what else could explain the fact that we are practically giving money away with our two new deals!?

    £100 Refer a Friend!

    What could be better than receiving £50 for doing no more than referring a friend to our service?

    Knowing that the person you referred also received £50 AND is now benefiting from our great service, just as you are!

    Fill in this form to refer a friend.

    It’s Fun to Introduce!

    We at Redego regularly encounter new recruitment agencies through contractors that have benefited from our umbrella service. To build on this, therefore, we have recently launched a rewards scheme aimed at any contractor that introduces a new recruitment agency to us. You will receive a £50 fee refund when you begin a contract (must last six weeks or longer) for an agency with whom we have never had any previous dealings with. You will be notified by email should you qualify.

    New smartphone app – send in your mileage claims and fuel receipts by text!

    Posted 07-05-2013 by Ifan

    As you currently submit mileage claims and send your fuel receipts by post, to make life easier we’ve developed a smartphone app to help ease the administration

    If you have an Android phone (2.2 or above) or an iPhone you can download the app for free and submit your fuel receipts from your phone. Rest assured the iPhone version is coming soon.

    This is the first version which we are releasing to our clients. It has been extensively tested, but please let us have your feedback. We’ll be extending the functions soon, so you will be able to send other receipts and enter claims on your phone.

    Submit mileage claims and fuel expenses with our iPhone app

    Submit mileage claims and fuel expenses with our Android app

    New Android App – no need to post fuel receipts!

    Posted 20-11-2012 by Ifan

    As you currently submit mileage claims and send your fuel receipts by post, to make life easier we’ve developed a smartphone app to help ease the administration

    If you have an Android phone (2.2 or above) you can download the app for free and submit your fuel receipts from your phone. Rest assured the iPhone version is coming soon.

    This is the first version which we are releasing to just a few of our clients. It has been extensively tested, but please let us have your feedback. We’ll be extending the functions soon, so you will be able to send other receipts and enter claims on your phone.

    Have you considered other payment options?

    Posted 11-11-2012 by Ifan

    As a freelancer the way you are paid should be determined by the nature of the work carried out.

    A freelancer might be one of the following:

    - short term employee of a client or an agency
    - employee of an ‘umbrella’ company
    - self-employed individual
    - director and shareholder of a limited company (also known as a personal service company or PSC
    Advantage and disadvantages of each option

    An umbrella company, in addition to the agency PAYE legal provisions regarding salary etc, also allows you to claim bona fide expenses, which means more pay in your pocket. You have no admin, no commitment, no hassle and no limited company statutory or legislative worries and responsibilities.

    A self-employed individual is usually paid gross, unless working on a construction project, and simply needs to keep a record of their business related income and expenditure and submit accounts once a year to HM Inland Revenue with their self-assessment.
    All agencies and some clients may not agree to contract on a self-employed basis.

    Limited Company (PSC)
    Setting up a limited company should not be a short-term proposition, as it requires genuine commitment. Managed properly, running your own company has a number of advantages: being in control of your own business, the freedom this brings and the ability to optimise your income.

    With all this in mind, you need to make sure your decision to freelance is primarily a lifestyle choice.
    Don’t be influenced by employment and tax laws as they undoubtedly change.

    We will guide you through the legislation and compliance procedures and any changes to them, and you can be confident that you are receiving the best accountancy support and working as safely as possible.
    Our accountancy, tax advice and support services remove as much of the administrative burden as is appropriate and provide guidance, to ensure you meet your responsibilities.

    You can call us to discuss any questions you may have about our services, or if you need help in assessing other accountancy and support services you have come across.

    Once you have made your mind up, getting started is extremely easy.

    Are your contractors using Employee Benefit Trusts?

    Posted 20-09-2011 by Ifan

    On the 9th of December 2010, HM Treasury released the Overview of draft legislation for Finance Bill 2011 announcing legislation targeting schemes to pay remuneration through Employee Benefit Trusts (EBTs).

    The legislation will be introduced in the Finance Bill 2011, and become effective from 6 April 2011 onwards. The inclusion of anti-forestalling measures that became effective on the 9th December 2010 mean that from now payments of this type fall within the scope of the new measures.

    The proposed legislation states that sums earmarked by trusts or other intermediaries will be treated as though it is a payment of income that is liable to PAYE tax.

    Because of this ruling we believe that use of an EBT is no longer an option for your contractors.

    If your contractors are using an EBT Company, then they should immediately consider their options as they have now been made a target by HMRC and with the wide ranging MSC legislation this could also prove risky for agencies who are continuing to use these services.

    Be aware that EBT providers are trying to find a quick solution which could represent further danger!

    How can Redego/Tempo Accounting help?

    We will contact your contractors and give them a personalised assessment of their options and the likely impact on their take home pay within a few hours. Click here to request a call back.

    The services that we can supply you, subject to your requirements, will all meet the criteria below;

    • No off-shore ‘tax avoidance schemes’; UK based services only
    • Either limited company or umbrella company services
    • No set up or leaving fees and no minimum contract period
    • Unlimited advice for contractors by specialist consultants and accountants covering many different technical aspects

    Please call 0203 137 64 62 now for a free consultation.

    Agencies Now Signing Contracts Online

    Posted 18-09-2011 by Ifan

    Web-based service SignatureSense.com is gaining momentum in the recruitment industry by allowing contracts to be signed online, by all parties, in a matter of minutes.

    The conventional approach to signing and returning contracts (a combination of post / fax and email) is often the ‘bottle neck’ in an otherwise efficient placement process.

    Larger big-budget agencies have been using “electronic signatures” to sign contracts for years, however SignatureSense’s low monthly subscription fee for agencies makes this modern business practice available to even the smallest of companies.

    Alan Whitford, industry veteran and founder of RCEuro.com, the Pan European community site for recruiters, commented on SignatureSense:

    “I think that this offering should be a ‘no brainer’ for recruitment businesses, where the time lost in the administrivia of contract administration can lead to lost revenue and poor client service.  The electronic signature ‘wrapper’ is ideal for confirming NDAs, Terms of Business and Contractor Agreements, all in real time. We will certainly be using the service for our future agreements at RCEuro.”

    Jon Richardson, Founder of SignatureSense added:

    “We are really excited to see that Agencies find such a direct benefit in using our service.  It’s only a matter of time before electronic signatures are common-place, so the ‘early adopters’ are making the most of a great competitive advantage.”

    Related Sites:
    SignatureSense- ww.signaturesense.com
    RCEuro – www.rceuro.com