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2017 contractor earnings remain strong despite economic and political uncertainty
Despite ongoing political and business uncertainty, 78% of UK freelancer and contractors have reported either no change (56%), or an upturn (22%) in their earnings so far in 2017.
Research into 1,508 UK freelancers and contractors by contractor tax adviser Qdos Contractor highlighted:
– 56% have not seen any change in their earnings in 2017
– 22% have noticed an upturn in earnings this year
– 22% have experienced a downturn in earnings in 2017
Qdos Contractor CEO Seb Maley said: “That 78% of freelancers and contractors have either experienced the same or improved earnings in what has been in many ways an uncertain start to 2017, is very positive news.
“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. 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.”
“The UK’s 2million freelancers and contractors contributed £119 billion to the economy in 2016. Therefore, it’s vital that Brexit negotiations, and the next Government – whoever that might be – are focussed around building a fair tax system and an environment in which the independent workforce can thrive.”