Welcome to our Winter Newsletter. Despite the recruitment sector experiencing another great year, many are concerned that the market has now flatlined.
The latest ONS statistics, which look at the market from September to November 2016 depict that:
- Employment rate is 74.5%, virtually unchanged compared with earlier in the year, but at least higher than a year earlier
- Salaries on the rise – average weekly earnings have increased by 2.8% compared with a year earlier
- 294,000 more people in work than a year earlier in our eyes, the recruitment sector is performing well when considering the number of changes that are to impact the sector – Brexit, IR35 and Making Tax Digital. The sector is resilient, but it is important that you are aware of the impact these changes may have on your agency in order to limit them as much as possible.
To help those in the recruitment sector to have a successful 2017, we bring you all of the key points from the Autumn Statement 2016, which you need to be aware of. Our Managing Partner also delves further into the IR35 changes, which will come into force as of April 2017, and will affect agencies in the public sector, see page 14. Finally, in this edition Lee Manning takes a look at Making Tax Digital, which it has been confirmed will be going ahead in April 2018 for sole traders and buy-to-let landlords. See his article on page 12 for further information.
We always welcome contributions. If you would like to contribute to our next edition, please get in touch.