Contractor pay changes could retain North Sea skills, say AGCC
ByAllister Thomas
Incoming changes to contractor rules could help retain skilled workers in the North Sea, the Aberdeen and Grampian Chamber of Commerce (AGCC) has said.
New legislation, known as IR35, comes into effect in April next year, stopping contractors who are effectively employees of a company “disguising” themselves as freelancers to pay less tax.
The North Sea is thought to be among the industries to be most drastically affected by the changes, as many individual contractors operate through intermediaries, such as personal service firms.
