The true effect of the IR35 reforms is now starting to become evident, at a time when the UK needs a flexible highly skilled workforce more than any other it now shows that over 30% contractors have left the industry.   Whether they have moved abroad, took a permanent role or just given up work completely the end results is the same, less flexibility in the UK work force.

Perhaps just as bad is the erosion of earnings.  At a time when the UK government talks about levelling up and having a high skilled high earning population another effect of IR35 is that 80% of workers now working inside IR35 have reported a quarterly drop of 30% in their earnings.  25% said they’d seen a drop of 40%.

This research from The Association of Independent Professionals and the Self-Employed (IPSE) highlights exactly why it’s important each contractor to keep every penny they can from their contracting.  If the general population saw that erosion of earnings that the contractor market has there would be masse uproar, once again contractors become an easy target.  Quad Management offers extremely competitive margins to help UK contractors keep more of your contract value, please get in touch if you think we can help you.