Brexit has made working for non-UK clients more difficult for contractors with more than one in three reporting issues, new research from Workwell shows.
The study by Workwell & IPSE found non-UK business makes up a substantial part of business for contractors. Around 27% questioned say they do some work for clients based outside the UK.
Around 35% say this has become more difficult since Brexit, according to the study. Despite the potential issues, around one in 10 (9%) contractors questioned said they are considering moving abroad to work with the potential to earn more the biggest motivator for moving alongside concerns about domestic issues.
Around 38% of those who are considering working as contractors abroad say they can earn more. The same number are considering moving because of worries about the UK crime rate while 25% blame the relatively poor performance of the UK economy and the cost of living crisis.
Workwell collaborated with IPSE, a community of over 35,000 self-employed people in conducting the research.
Chris Mollan, Head of Accountancy Services at Workwell said: “Working for non-UK clients makes up a substantial part of the UK contracting market with more than a quarter of contractors working for some clients based abroad and many contractors considering working overseas."
“Those contractors who are already working abroad or are considering this, and those with clients based overseas, need expert support on accountancy and tax in order to make sure their business runs smoothly."
“The numbers of contractors who have run into problems post-Brexit underlines the need for planning and advice.”
Workwell’s award-winning accountancy service is designed to help contractors, freelancers and business owners to manage their business easily and tax-efficiently. Clients are supported by their own dedicated accountant and have online accounting to access and manage their accounts easily, from anywhere. It also provides umbrella company solutions for contractors.
Workwell enables businesses in the UK and overseas to more easily and compliantly benefit from flexible workforces. Its services for recruiters and end hirers are designed to take away the risk, hassle and complexity of contingent labour supply.
