Contractor Calculator yesterday released a special report to highlight the tenth anniversary of IR35. In conjunction with ContractorFinancials, the aim of the report was to talk about the past, present and future of IR35. It contains expert analysis, a historical perspective, essential guidance for contractors, and a look at what the future might hold.
Although a controversial tax law, the report found that it has actually brought some benefits to UK contractors. For the first time, contractors joined forces to fight against the effects of IR35 on their livelihoods.
Despite IR35, Dave Chaplin of Contractor Calculator believes the contracting sector has matured and strengthened. “Not only that,” says Chaplin, “but as the core component of UK PLC’s flexible workforce, contractors have the potential to lift the economy out of recession. The UK is lagging behind its global economic peers by remaining in recession,” explains Chaplin, “and it is the massive burden of business taxes and regulation, like IR35, that is now holding back the UK’s economic growth.”
The report also highlights that the risks of IR35 to a contractors financial health is now better understood than it was 10 years ago and a specialist service sector has risen to the challenge of supporting contractors.
ICS recommend you take time out to read this report as it is a worthwhile read for all UK contractors.
Click here to download Contractor Calculators IR35 Report – 10 years that shook the world of UK contractors.
