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Risk Takers and Recruitment Agencies

UK Contractors

Agencies have always been a sure way in which freelancers and contractors can find accessible work, without certain rigmaroles and costs that can come with the process of doing it alone. Research has revealed however that a staggering 70% of modern contractors are using recruitment agencies and jobs board to find new employment opportunities.

The survey that was delivered to hundreds of contractors nationwide found that more than 42% of contractors landed their current contracts through the means of a recruitment agency. This being said however, a significant 30% of self-employed individuals noted that they had in fact used friends and family to get to their last role.

This rise in agencies and word of mouth for contractors gaining work is one things, but contractors are also increasingly leaving it later and later to find their next role, with over 80% not making any future contract plans until the last two months of their current roles. Of those, research suggested that 15%  of those start the search once they are out of work, and 36% only start looking for alternative positions once they are within their last month of contract.

Contractors have always found landing employment and clinching jobs never a particularly hard process, but recent studies have shown that UK contractors are increasingly taking great risks when gaining new contracts.

 

Contract Reviews

This increasing number or contractors taking risks at present could mean that the number of IR35 inquiries could rise. Contractors that take risks and cut corners are most often the ones who fail contract reviews and land themselves in deep water with the HMRC. IR35 is becoming ever more prominent with UK contractors, and the tax office is keen to tighten their grip on loose contracts or potentially risky individuals. With contractors leaving contracts so late, successful and sufficient contract reviews would be a far harder ordeal than they should be, and all UK contractors are advised to sort out future contracts sooner rather than later.

To download our free IR35 Contract Templates please visit here.

By Troy Stevens

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