What are the insurers going to do after next April?

[Fred Bloggs]

When (almost) everyone is paid through PAYE payroll next year, what happens to the businesses that depend on providing nano limited companies with insurance against HMRC investigations? (Thoughts prompted by another thread here asking about insurance for past contracts). What are our "friends" at places like IPSE going yo do? Assuming their move fishing in the wider self employed fish pond has pretty much failed, what happens next at places like that, QDOS etc....?

[Lance]

When (almost) everyone is paid through PAYE payroll next year, what happens to the businesses that depend on providing nano limited companies with insurance against HMRC investigations? (Thoughts prompted by another thread here asking about insurance for past contracts). What are our "friends" at places like IPSE going yo do? Assuming their move fishing in the wider self employed fish pond has pretty much failed, what happens next at places like that, QDOS etc....?

easy.

QDOS will continue to sell insurance or go bust. TLC35 is gonna disappear but there will always be PI/PL/EL insurance business.
IPSE aren't an insurer so what happens to them depends on their ability to pivot to a different freelance market.

Oh. and not all contractors are permitracters about to get permied. There's a lot of work out there that is, and will stay, outside IR35.

[Fred Bloggs]

easy.

QDOS will continue to sell insurance or go bust. TLC35 is gonna disappear but there will always be PI/PL/EL insurance business.
IPSE aren't an insurer so what happens to them depends on their ability to pivot to a different freelance market.

Oh. and not all contractors are permitracters about to get permied. There's a lot of work out there that is, and will stay, outside IR35.

A lot of work? Cripes, you must have an amazing skill set. I had no offers since 2015 and had to go overseas (oil and gas).

When likely 90% or more of contractors are PAYE they aren't going to need any insurances from QDOS or anywhere else.

And the "sausage machine style" contractor accountants? Unless they have significant non-contractor business there's a lot of jobs vapourising there.

When I look at the countries I have worked in I have seen that indeed maybe 90% of the contingent work force are PAYE. The UK has been an outlier for some time in this respect. It is normal that all but the very specialist and highly skilled multi-client contractors are PAYE.

[SuperLooper]

There's an explosion in remote work opportunities (probably IR35-friendly) in the last few months, particularly with US-based clients.

[Fred Bloggs]

There's an explosion in remote work opportunities (probably IR35-friendly) in the last few months, particularly with US-based clients.

Interesting, the world's passing me by, obviously.

[NowPermOutsideUK]

Ive also had to move overseas and I don’t see any improvement at all since brexit 2016

In fact things seem to have got far far worse. This is banking London contractor market where rates used to be good and people could simply cross the street and work at a new place one week to the next.

I don’t know whether it is ir35 brexit or covid but the market in Canary Wharf is dead

[Fred Bloggs]

Ive also had to move overseas and I don’t see any improvement at all since brexit 2016

In fact things seem to have got far far worse. This is banking London contractor market where rates used to be good and people could simply cross the street and work at a new place one week to the next.

I don’t know whether it is ir35 brexit or covid but the market in Canary Wharf is dead

Same in O&G. We were lucky to have some epic rates for a number of years. But since mid 2014 the entire industry has basically collapsed for Western workers. After almost 18 months of no work, I was forced to go overseas or starve. I have now semi retired back to the UK. I see nothing good following April 2021 for the businesses who rely almost solely on limited company contractors for the bulk of their business. If there's less than 90 per cent contingent workers on PAYE assignments I would be very surprised. That's how it is in the rest of the world.

[DaveB]

Interesting, the world's passing me by, obviously.

Depends what you work in. Public Sector IT jobs have swung back to Outside now. At least 60% of the stuff I'm seeing coming through on the Digital Outcomes and Specialists framework is declared as outside.

The smarter insurers are ramping up to sell insurance products to the clients instead of us. Status Review - IR35 Compliance Management - Qdos

[eek]

Depends what you work in. Public Sector IT jobs have swung back to Outside now. At least 60% of the stuff I'm seeing coming through on the Digital Outcomes and Specialists framework is declared as outside.

The smarter insurers are ramping up to sell insurance products to the clients instead of us. Status Review - IR35 Compliance Management - Qdos

Everything in digital outcomes should be outside

[merseygrit]

There's an explosion in remote work opportunities (probably IR35-friendly) in the last few months, particularly with US-based clients.

How do you go about finding remote work with US-based companies?