Following the elation within the contracting sector about the Government’s decision to repeal the 2017 and 2021 reforms to IR35, we are extremely disappointed the new Chancellor has chosen to reverse the measures.

IR35 was among a number of policies targeted by Jeremy Hunt in his emergency fiscal statement this month, which undid the tax cuts announced in his predecessor’s mini-Budget.

While this change is frustrating, it doesn’t materially change the reality of working as a freelancer or add further restrictions to the existing rules.

If you continue to work outside of the off-payroll legislation then you should be largely unaffected, but for those currently deemed inside, this may be a wake-up call to review current opportunities and to see what is out there that might offer more favourable terms.

Unemployment is, after all, at a historic low and many organisations have skills gaps that require filling – the ball is in your court.

Rishi Sunak has now been announced as the new Prime Minister following the resignation of Liz Truss after 45 days in office. Hopefully he will look favourably upon the contracting world.

As always, we will be here to guide you come what may, offering advice and support that makes your life easier.