News for hackers. Stuff that matters.
Re:How much I made as a good Engineer at Facebook by varispeed on Thursday December 03, 2020 @08:47AM (#25288759)
The contracting market will be culled from next year when IR35 changes come to play. That means people providing services as a business will not be able to claim business expenses (with some exceptions) plus they will have to draw all revenue as a salary. This makes essentially running such service pointless. They will also have to pay employee and employer's NI (without having any employment rights), that gives effective tax rate at around 54%. There will be awkward situation where engineers would work only half a year, to pay more reasonable tax or become an employee of agency. Coincidentally the share prices of Indian consultancies rocketed upon the announcement of IR35 going forward.

There are no comments on this comment yet.