Taxing Times

Posted on 14 February 2008

Comments

A couple of key things coming up on the horizon for contractors

The tax year end is not far off and so it’s a last chance to ensure you get maximum tax benefit on certain planning activities in this tax year. Of probably more importance but with less certainty, is the state of the economy. You can probably imagine that I get lots of publications and predictions from a wide variety of sources. Personally I have been through recessions before and I found it to be decent times for Contractors. Quite often some of the big companies lose jobs but then find they need to complete or start projects, where do they go…. Contractors. Rates can sometimes suffer but if you have kept skills up to date and can add value, then a reduction is not always the case.

I don’t think we are heading for a late 80’s, early 00’s type collapse, a sustained period of growth probably means slowing and more caution rather than boom and bust. There are also still significant skills gaps in a number of sectors and good Contractors will always find plenty of work. Here at Parasol House we remain optimistic for 2008 and will continue to be adding new services and solutions to make conditions as best they can be for Contractors.

Category: Industry comment, Tax

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