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Recruitment Update: Issue 1, 2015

April 2015

Last year was a strong one for the recruitment sector. Whilst continued growth is anticipated during 2015, there is uncertainty for many recruiters, particularly given proposals to remove temporary workers’ entitlement to claim tax relief for travel and subsistence expenses. This is expected to have wide repercussions for umbrella employers.

2015 promises to be a challenging year for the staffing sector in many respects. Although 74% of respondents to the Saffery Champness TEAM survey reported an increase in net fee income, many were concerned about their ability to attract and retain quality consultants in their businesses in 2015. The results of this survey can be viewed below.

Those agencies paying temporary workers will now be preparing  to meet new obligations to make quarterly reports to HM Revenue & Customs, with the first return being due by 5 August 2015. While, for all employers, there are ongoing key reporting deadlines to be met - we outline these, along with some relevant employment tax changes, below.

Links to our latest articles:

Team 

Benchmarking survey of recruitment agencies

Working jointly with TEAM, we surveyed a number of independent recruitment agencies and found that they are benefitting from the improved economic environment to a greater extent than their larger listed counterparts.

View the survey results


new york

Considering opening an office in New York?

We help many recruiters expand into new markets. Working with CohnReznick, a fellow Nexia International member firm, we have prepared a guide to local taxation and employment legislation for agencies considering establishing a branch in New York.

Read our Doing Business in New York guide


receipts

Temporary workers' travel and subsistence expenses

The UK's 2015 Budget saw new proposal is to remove workers’ entitlement to claim tax relief for travel and subsistence expenses incurred from their home to place of work in certain circumstances. We outline the proposals.

Find out more


calendar

Year end reporting for employers

Our recent Taxation Briefing outlines the key reporting deadlines for UK employers in 2015 and summarises recent employment tax changes.

Download our Taxation Briefing


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PREVIOUS ISSUES

Recruitment Update - Issue 2, 2014 Recruitment Update - Issue 1, 2014