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UK at risk of contractor 'talent drain'

IR35

Executive Grapevine | Executive Grapevine International Ltd

UK at risk of contractor 'talent drain'

A skilled contractor “talent drain” could be on the cards if UK businesses don’t prepare for IR35 tax reforms in the private sector next year, a new report has warned.

With the six-month countdown to private sector tax reform underway, Brookson Legal’s survey of more than 500 contractors found that if freelancers are assessed to be within IR35 regulations – and are told to pay employment taxes by the businesses that hire them – then 59% would consider looking for work elsewhere.

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