The Future of Work: Embracing Global Opportunities While Ensuring IR35 Compliance

The world of work is undergoing a profound transformation, with traditional employment models giving way to more flexible and globally connected opportunities. As companies increasingly embrace the concept of engaging with talent across different jurisdictions and countries, the barriers that once confined businesses to their 'home territory' are rapidly disappearing. This shift has opened up a world of possibilities for contractors, who now have access to a global marketplace of potential clients and projects.

The numbers speak for themselves. In the United Kingdom, the temporary labour market comprises approximately 4 million off-payroll workers, while in the United States, an estimated 70 million individuals are self-employed. On a global scale, it is projected that 46.5% of the population is now engaged in self-employment, with this figure expected to surpass traditional employment by 2028.

However, employing personnel and engaging with contractors in different jurisdictions can present complex challenges. Specifically in the UK, organisations must consider the status and comply with the IR35 legislation when seeking to utilise contractors. As outlined in the previous article, "What should you factor into an IR35 compliance test?", determining the employment status of contractors is a crucial aspect of ensuring compliance with IR35. Factors such as substitutability, level of control, financial risks, and working practices must be carefully considered to avoid the financial and legal risks associated with non-compliance.

As the world of work evolves, companies with a business presence in the UK are increasingly turning to CoComply for invaluable assistance in navigating the intricacies of IR35 compliance. Our expertise and innovative solutions enable businesses to confidently classify workers and ensure adherence to the regulations, mitigating the risks associated with non-compliance. By providing ongoing support and guidance, we help companies maintain compliance throughout their engagement with contractors.

We understand that as businesses expand their operations globally, additional logistical and compliance matters can prove daunting. That's why we have forged a strategic partnership with Briars Group, a leading provider of international expansion services. Together, we offer a comprehensive solution that empowers companies to tackle the complexities of global growth while maintaining compliance with local regulations.

Briars Group brings to the table a wealth of experience in facilitating seamless international expansion, offering a range of services including global payroll, entity setup, and in-country support. By combining their expertise with our IR35 compliance solutions, this partnership provides businesses with a one-stop-shop for navigating the legal and logistical aspects of engaging contractors across borders.

Through our powerful collaboration with Briars Group, we are at the forefront of supporting businesses in the evolving world of work. As companies increasingly embrace the benefits of engaging with global talent, our partnership ensures that they can do so with confidence, knowing that they have the necessary support and guidance to overcome the challenges of IR35 compliance and international expansion.

In a rapidly changing business landscape, where flexibility and global connectivity are becoming the norm, CoComply and Briars Group are committed to empowering businesses to thrive. By providing innovative solutions and expert guidance, we are helping companies unlock the full potential of the global workforce while ensuring compliance with complex regulations like IR35.

As the world continues to evolve and self-employment becomes an increasingly dominant force, businesses that proactively adapt and seek the support of trusted partners like CoComply and Briars Group will be well-positioned to succeed in the new era of work. By embracing the opportunities presented by a global talent pool and ensuring compliance with regulations like IR35, companies can confidently navigate the future of work and achieve sustainable growth in an increasingly interconnected world.