Prospect of no-deal Brexit poses threat to contractors

A 'no-deal' Brexit would jeopardise the position of thousands of contractors and freelancers working in Europe - and potentially also at home, according to an industry expert.

As Parliament overwhelmingly rejected the Prime Minister's Brexit deal, the prospect of a 'no-deal exit' took a step nearer with the country's deadline to leave now just over two months away. Seb Maley, from tax specialists Qdos said: "The UK remains in no man's land but does seem to be edging closer to a Brexit no-deal, which would result in the removal of the transition period. Clearly, this would jeopardise the position of the thousands of freelancers and contractors working in the EU and paying tax here in the UK.

"A potential no-deal also raises further questions of whether global companies will continue to view the UK as a financial hub. If they choose to relocate, this could impact the number of opportunities for these workers in the UK.

"Contractors, recruitment agencies and the businesses engaging independent workers need certainty one way or another - much like the rest of the UK population."

Qdos research carried out in September 2018 showed only 11 per cent of over 1200 contractors believe the UK will secure a Brexit deal that best serves business.