Re: hyperbole?
The problem is that IR35 is so ill defined that even HMRC are having trouble explaining it. so they don't even bother. They never provided companies with clear set of unambiguous rules that would allow them to make proper determination of the tax status of the freelancers they employ
Which lead to a situation where the biggest market for freelance work - large corporations are faced with a choice:
A) Accept quantifiable risk of HMRC investigation and tax grab
B) Stop using freelancers at all
Guess which option most of them are going for...
It's not apocalyptic, labour market have seen much bigger upheavals through the years, but there will be significant impact for both clients and freelancers.
HMRC doesn't care either way, they wan their pound of flesh
Biting the hand that feeds IT
