Ongoing political and business uncertainty, which is every much a theme of 2017 as it was of 2016, is yet to leave its mark on UK freelancer and contractor earnings.
While confusion surrounding Brexit relentlessly rolls on – not helped by a General Election on 8th June – the vast majority of freelancers and contractors are earning the same or more this year, compared to their business performance in 2016.
Research from contractor tax adviser, Qdos Contractor highlighted as many as 78% of 1508 UK independent professionals have reported either no change (56%), or an upturn (22%) in earnings this year so far.
Adding to the growing concerns of UK business, changes to IR35 in the public sector were also enforced in April just gone, leaving question marks hanging over the very future of contractors working on major public sector projects.
“Brexit, controversial changes to IR35 in the public sector, not to mention the shock news of an imminent General Election has cast a concerning cloud of uncertainty over UK business this year,” explained Qdos Contractor CEO, Seb Maley.
“However, that the majority of independent workers’ business performance remains unchanged, or in 22% of cases, better, just goes to show the importance and resilience of the UK’s flexible workforce.”
Each of the three main political Party’s have now released their manifestos, which are being closely scrutinised in the lead up to the 2017 General Election on June 8th. With questions remaining over the existing Government’s commitment to those working independently, Seb Maley among others, called for more support for the UK’s 2million independent workers.
“Freelancers and contractors contributed £119bn to the economy in 2016. Therefore, it’s vital that Brexit negotiations, and the next Government, whoever that might be, are committed to building a fair tax system and an environment in which the UK's independent workforce can thrive.”
Has Brexit, the upcoming General Election and recent IR35 changes affected your business performance in 2017? Join the conversation…