HMRC withdrawal of IR35 Business Entity Tests:
HMRC has announced they will withdraw the Business Entity Tests (BETs) which were originally created to give contractors a means to voluntarily assess their IR35 risk. In response to the announcement, Tom Hadley, Director of Policy and Professional Services, says:
“Through our membership of HMRC’s IR35 Forum, we carried out a joint review of the tests with IPSE and APSCo and found that they were ineffective in giving businesses greater certainty about their risk, and were not always used correctly or consistently. This was particularly evident in the public sector where some departments have inappropriately applied the risk scores or have created their own versions to satisfy guidelines set by the Treasury for off-payroll contractors"...
Full guidance can be viewed http://www.rec.uk.com/news-and-policy
REC JobsOutlook -Vacancies rise at strongest rate in over 16 years:
The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs – provides the most comprehensive guide to the UK labour market, drawing on original survey data provided by recruitment consultancies.
The number of available job vacancies rose further in August, with the rate of expansion the sharpest since April 1998. Both the private and public sectors saw increased demand, with the former recording the sharper growth.
- Demand for staff increases at fastest pace since April 1998
- Growth of staff appointments remains marked, despite easing
- Candidate shortages fuel strong pay growth
Full article see: http://www.rec.uk.com/news-and-policy
Local Business News: Big chunk of Bluewater centre sold for £696m:
A 30 per cent stake in the Bluewater shopping centre has been snapped up by a major British developer.
The cost, which includes surrounding land, is a cool £696 million.
Land Securities has announces the acquisition, but assures Kent shoppers they won’t initially “notice any changes”.
It is, however, considering plans to combine empty units.
A spokesman told us: “Hopefully shoppers will notice that there will be fewer voids but we have not put any date on these actions because they are not yet firm plans.”.
Full article: http://www.businessforkent.co.uk
Kent Messenger Mega Growth 50 Company Winner:
House builder Chartway Group has been named as the fastest-growing private company in Kent in the annual MegaGrowth 50 list, published by the KM Group.
The Maidstone-based construction company topped the table in its first year of eligability, having been founded at the height of the recession in May 2009.
Its turnover grew by an astonishing 1,302.9% in four years, making it the first individual company to record four-figure expansion since the list began 13 years ago.
Full article: http://www.kentonline.co.uk