Contractor attitudes survey – latest edition released
The latest SJD Accountancy ‘Contractor Attitudes’ survey has been released, based on the views and opinions of 1,000 limited company contractors recorded during the second half of 2013.
Some of the key findings were:
- The number of ‘older’ contractors has continued to grow over successive editions of the survey – the number of clients in their 50s is up 16% compared to a year ago. Currently, 6% of clients are in their 20s, 36% in their 30s, 34% in their 40s, 20% are in their 50s, and 4% are over 60.
- The ratio of male to female clients is 84% / 16%.
- 81% work in the private sector, 19% in the public sector.
- In terms of career contracting, 13% have been contracting for over a decade, 25% between 5-10 years, 30% between 2-5 years, 13% between 1-2 years, and 19% for less than a year.
- 36% of respondents earn between £500-£750 per day, up almost one-third over the past year.
- Reassuringly, 90% are earning more as contractors than they did as permanent employees.
- 74% positively chose to become contractors, and 12% were forced into contracting due to the limited number of permanent jobs available at the time.
- 85% cited ‘higher rates of pay’ as being the most enjoyable thing about being a contractor, followed by ‘no office politics’, ‘flexibility’ and ‘freedom’.
- 86% have a ‘positive’ outlook on the contracting market – an 18% from two years ago, when the first edition of the survey was carried out.
Positive outlook for contract interim managers
The latest Ipsos MORI poll carried out by the Interim Management Association (IMA) shows that 89% of interims expect the industry to grow over the coming year.
The joint turnover of member firms also rose by almost 30% in the third quarter of 2013 (to £42m) compared to the first.
Jason Atkinson, chairman of the IMA, said that following the end of the economic downturn, “there is a revived optimism within the sector. Increasing numbers of briefs are coming in to providers across both the public and private sectors, as organisations realise the value an interim can bring.”
PCG calls on Chancellor to back contractors at Budget
The PCG has written to George Osborne asking him to use his forthcoming Budget to help the UK’s smallest businesses.
The key measures the group has identified as being of most benefit to freelancers and contractors are:
- Provide small businesses with “sufficient legal tools” to deal with late payment issues. As things stand, freelancers are unlikely to charge interest on late payment or issue legal demands for fear of losing future business.
- Provide reassurance that the ‘onshore employment intermediaries’ legislation will not affect limited company contractors (the consultation period has just finished).
- Continue to expand the UK’s communications infrastructure, to provide fast broadband at an affordable cost.
- Reduce business rates on ‘collaborative’ workspace, such as shared hubs which have become increasingly popular in many of the UK’s urban areas (not just Shoreditch!)
InTouch Accounting joins FCSA
InTouch is the latest accountancy firm to be accepted as a full member of The Freelancer and Contractor Services Association (FCSA).
Members have to undergo a rigorous process before joining the organisation, and have to abide by the FCSA code of conduct, which aims to reassure contractors that a member firm is financially stable, and provides high-quality professional services.
Commenting on his firm’s news, Paul Gough, MD of InTouch Accounting, said: “In the current economic climate with new legislation protecting the vulnerable and growing pressure to comply with tax law; workers, hirers and agencies recognise the benefit of the FCSA’s Code, as a ‘benchmark’ representing quality and consistency across the supply chain.”
You can find out more about FCSA at http://www.fcsa.org.uk/
New website for FW Accounting
Leading contractor accountancy firm, FW Accounting, has launched its newly redesigned website this month. The team’s goals were to make the new site more user-friendly, easier to navigate, and provide some inviting and engaging content to current and prospective contractor clients.
Commenting on the redesign, the firm told us: “Beneath this new exterior, our core remains the same. Established in 1999, FW Accounting are the UK’s premier Oil & Gas accountants. We’re proud to have provided accounting services to over 10,000 clients”.
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