Having been a holder of Staffline (LON:STAF) for sometime, I am concerned at the gradual erosion of value from a high in May 2017 to today which amounts to in excess of 30%. Today it lost 7% alone but I am unable to uncover any reason as to why, having searched through RNS and news showing nothing negative. Even Paul Scott in his regular blog covered the stock in July and was relatively upbeat about it. It still has a Quality Stock Rank of 88, and seems a well run business so I am at a loss to understand its steady drop in value.
Any insight would be appreciated!
I think all recruitment companies that deal with the LTD contract market will take a hit after the budget next week
http://www.itcontractor.com/theresa-may-abolish-contracting-profession-june/
Last year the law changed to public service (nhs, government) and contractors had to quit or work through umbrella companies.. A lot of consultants wont touch those contracts now...Either they went perm or jobs were filled by Outsourcing companies such at Tata etc..
"According to recent budget leaks in the Times and Financial Times newspapers, Theresa May intends to abolish contracting profession in April 2018 as we know it.
It will certainly be a lot smaller marketplaces than previously.
Chancellor Hammond will announce it in his November 2017 Budget according to the leaks.
It seems that the IR35 changes that the Government rolled out in he public sector in April 2017 are to be rolled out in the private sector as well according to budget leaks to the Times and Financial Times.
Unfair Tax Advantage for Contractors
The basic premise is, as Theresa May and Chancellor Hammond stated “It is unfair that a self employed person making £100,000 a year should pay less in tax than an employee earning £100,000 a year
Matthey Taylor’s final report landed on Theresa May’s desk in June.
The report said that companies are abusing the law by taking on supposedly self-employed workers for jobs that are normally done by permanent employees.
Companies are doing this to avoid paying sickness benefit, holiday pay, pension and maternity benefits"
sthree, robert waters, etc, etc
I noticed sthree (i used to contract through these) dropped from 350 to 250 Just after the 2016 budget where the new ir35 rules were proposed
All eyes on the budget for Personal Service Companies next wednesday..
