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Interesting times ahead – ir35 to go?

May 24, 2010 in Contractor News, Freelancing, Industry comment, Life

So the dust has settled (for now) and our new masters are setting about making the changes they believe are necessary to improve our economy and improve our lot.

In the recently published coalition document there were probably two of three key specific Contractor related matters that come to mind:

  1. IR35 was mentioned along the lines of tax simplification;
  2. Public cuts;
  3. No mention of Agency Workers Regulations (AWR).

For me IR35 and tax simplicity for Contractors is all about “certainty”.  As drafted, IR35 is subjective and, therefore, using the same set of facts two different views can be taken.  If the legislation was clear and could provide a series of specific tests that then produced a balanced answer and that answer met a criteria level then taxpayers, advisers & HMRC would save a lot of time and certainty would be gained for all.

Cuts – I think that in the short term, public spending cuts may have an impact as certain Government department are forced to reduce temporary headcount and then permanent. Once that round is over, guess where they will probably go to then ensure key projects are then delivered?

I don’t agree with some commentators views that AWR will be removed or stopped. This is European wide legislation and therefore cannot be simply put to one side. It may get some guidance updates (welcome) but I can’t see it going!

Let’s hope the new government can address some of the issues that the flexible workforce faces as in my opinion, they are a crucial part of the UK’s recovery process.

CIPD predict fall in Contractor roles in Public Sector

April 21, 2010 in Contractor News, Freelancing, Industry comment, Recruiter News

The CIPD have today issued a news release which states that any post-election spending cuts could lead to 500,000 job losses in the public sector and that this in turn could have a potentially damaging effect on the umbrella company marketplace.

It is possible that public sector cuts could affect the Recruitment industry as a whole but in general, Contracting is anti-cyclical and the steady uptake in the private sector could counter balance any public sector fall.

If an umbrella company has a critical exposure on public sector contractors via, say, a specific Agency then there could be issues.

I think it is also important to mention that the definition of a public sector contractor is also relevant. There is a marked difference between an agency nurse (for example) and an IT contractor being used on an NHS project. In that example, and there are many, there is a key difference about where the impact will be most felt.

I predict a stable year for the professional umbrella company despite continued land grab strategies (free offers and high incentives to join) at the other end of the market.

The Ten Year Blog Post

March 31, 2010 in Contractor News, Freelancing, Industry comment, Life, Recruiter News

Ten years ago myself and Mark O’Brien along with some investment and support from our local accountants (Livesey & Spottiswood) started Parasol. We planned it in late 99 and by February 2000 we were ready. We started properly trading on 1st April 2000 and I spent that Easter putting the finishing “touch” to our first online timesheet portal. Written in perl (don’t ask but that link explains all!) it started the journey and it’s been a great journey since then.

I would like to thank all past and present Contractors for their support and custom, wouldn’t be much without you. We have also worked with many excellent Recruitment Businesses and their part in our journey also cannot be overlooked.

In that time we have looked after over 35,000 people and safely transacted over £2 billion pounds of Contractor income. There have been some lows (if you were around in April 2006 with a system change!) and there have been plenty of highs. We have remained focused on improving customer service, being efficient as possible (goes back to day one) and I am very proud of all the awards we have won as they are a testament to the hard work all the past and present Directors, managers and employees have put in. The biggest thank you should go to them.

Another milestone in the Parasol journey was in October 2006 when I completed a management buy-out that allowed our previous investors (and Mark) to exit the business and for a new impetus to start. I am grateful to Inflexion private equity for backing me and the team then, and for HSBC in supporting the transaction. We have since been able to invest in better systems and increase our capabilities. Late 2008 we added Quay Accounting to our family which we subsequently rebranded to Clearsky Accounting - our Limited Company accounting specialists.

2010 sees us looking at new opportunities and we are very well placed to make the most of these. The Parasol Group is proud of its accomplishments but is not standing still, can’t wait to reflect on the next ten years in 2020!

Thank you all for your support,

Rob.

Comparison..I know how Direct Line feel

January 26, 2010 in Contractor News, Freelancing, Industry comment, Recruiter News

Yet another new Umbrella Co popped up the other day and despite myself, I couldn’t help but visiting the website of said provider. Basic marketing premis seems to be cheaper fees than most (they feature a comparison page) and yet remain pretty anoynmous of some key points:

  • Fees are lower than ours but complete lack of clarity of what is included (e.g. insurances) at what levels;
  • No clues as to who is running it – no company reg details on the site – a basic legal requirement;
  • An “online” registration form which asks for bank details on an insecure connection.

I could go on but you get the point – I don’t mind competition at all, but I do feel duty bound to point out some glaring points that should be considered when assessing a provider. These are VERY basic points and when it comes to handling your wages, do some research.

Seasons Greetings

December 18, 2009 in Contractor News, Freelancing, Industry comment, Life

I would like to wish all Parasol Group contractors a very Happy Christmas and a prosperous New Year.  We hope that despite the challenges, 2009 has been successful and we are busy working hard on new solutions for 2010 and continuous improvement in all that we do.

I found out today that since Apil 2006 to March 2009, we have pushed over £1 Billion pounds of contractor income through our business, sometimes you have to step back and say, wow! I hope you would also join me in recognising the great work that the head office team complete on all our behalf’s, thanks.

I hope you and your families have a good break (if possible) and we look forward to working with you in 2010.  I will leave you with a serious picture of that same head office team:

The Team hard at work

The Team hard at work

Is it me or is being anonymous bad practice?

December 7, 2009 in Contractor News, Freelancing, Industry comment, Life

In our “lofty” position as a market leader (by volume and reputation) we come across a number of new and old Contractor service companies. They sometimes advertise on google using our name as a match and sometimes use low fees as a technique too. All is fair (well not always but let’s not get legal) in love and war but when a new one pops up or an old one uses a campaign, you can’t help but take a peek.

What really astounds me is the anonymity that many companies display. Quite often there is even a lack of the full company details (a legal requirement!) let alone an indication of who is behind it all. May be I am just odd but as a Contractor I wanted to know something about who was looking after my affairs and whilst it can’t be entirely open,  surely something more than “Accountants with x years experience” or “run by Contractors” is  hardly engendering trust.

Is it because the services offered are at the racy end of the tax spectrum? Maybe, but HMRC can get info on most companies if they want so it is hardly a good defence. Perhaps I am barking up the wrong tree here and it’s not a problem for many but a faceless business seems to lack confidence in my view.

The Mud Slingers are ready…

September 18, 2009 in Contractor News, Industry comment, Recruiter News, Tax

Gordon Brown unsurprisingly appealed to the TUC this week when part of his speech included a loose promise on the Agencies Workers Directive (AWD) coming into power within this government’s tenure. This was then followed by more comment from BIS (used to be BERR and was DTI before that!) that suggested a “2010 or 2011″ implementation – so a perhaps a little bit contradictory to the PM’s position.

Any new contractors/freelancers may be confused by all this as in many ways it is a bit too far off when you are focused on a role and earning some money. For those that are interested (and at a very high level view), it’s EU legislation that grants “temporary workers” the same “rights” as their fully employed counterparts after 12 weeks. I put the terms and values in quotes as the EU seem to think that Contractors need protecting and don’t get any employment rights.  Clearly this is not the case as the Umbrella employee gets FULL employment rights (or should)!

Anyway, like IR35 and MSC before, AWD is starting to create some turmoil and noise. “Umbrellas are dead” and “everyone move to Ltd” is starting to be shouted. In my opinion it does the industry no good to create disquiet in a time when there is equal focus to be placed on helping people get work and start contracting. “Well you would say that Crossland ” I hear you cry – maybe, but don’t forget we also have a true Accountancy Practice (Clearsky) and try to offer the right choice to Contractors based on best advice and not solely on % return (often advertised by the more unscrupulous providers before an individuals position is known!).

Surely if the “industry” (Umbrella Co’s, Specialist Accountants etc) is to have a better image with the authorities then at least some sense of the bigger picture should be thought of? Maybe I am being naive and self interest will always ultimately be the driver for many. The industry needs to wake up and smarten its act up. We and a few others have tried to do it with an emphasis on doing the right thing but that’s not the easy option nor the cheap option.

AWD like its previous legislative policies before it will come in, it is not the end of all current business models, it will simply create new models, some good and some bad. Here at Parasol we are very happy with our plans and confident that a new generation of solid prosperity for Contractors will be created and protected.

So if you read any “the end is nigh” articles that seem to suggest changing how you operate, just take a second to think why that might be.