In support of continued lobbying efforts to delay IR35 reforms (info here –https://stoptheoffpayrolltax.co.uk/) we recently conducted a survey of our clients who will be directly affected by IR35 reforms in their sector.
A summary of the findings can be found below with most showing considerable concern over the current state of awareness and preparation in light of the changes being just four months away.
63% of respondents indicate that they do not think their end clients understand the reforms. With just 51% contacted by their agency regarding planning for IR35, the seismic changes are clearly either not widely known or preparation for them has been left alarmingly late.
Another significant figure is that 68% of respondents are clear that they will not continue their contract if their end-client blanket assesses them inside IR35. The implication, therefore, is that we can expect to see industry leading agencies and institutions losing a significant proportion of their workforce quickly if a short term, reactive stance is taken.
We strongly encourage engagers, agencies and contractors themselves to fully prepare for the changes as soon as possible.
Similarly, we encourage those political parties who have promised reviews to follow through. There has to be an extensive appraisal of these reforms and the damage IR35 brings.In actuality, it is not just the reforms that require a reviewing, but the core legislation itself.
In the meantime our advice remains – take time, prepare and take advantage of free consultations that many firms, like our offer to contractors, agencies and end-clients alike.