Barclays refuses to hire contractors unless they go PAYE
Banking giant Barclays Bank has told its contractors it will no longer engage them unless they go into PAYE by the end of February 2020.
The communication is contained in an email Recruiter has seen purportedly sent from Barclays to its line managers.
Commenting on the implications of the move, ContractorCalculator CEO Dave Chaplin said: “This isn’t a blanket assessment, as some might claim. It’s simply that, under the new off-payroll legislation, Barclays is not prepared to take any risks come April 2020 when the reforms hit the private sector. Instead, the bank is choosing (by inference) to pay more for its contractors.
“This move is a direct consequence of very bad legislation. It’s absurd to suggest that 100% of the contractors working on critical Barclays projects are caught within IR35. The Treasury and HMRC have repeatedly said that these reforms should not affect the genuinely self-employed. This demonstrates the untruthfulness of that claim.”
Recruiter contacted Barclays for comment. This story will be update upon receipt of their reply.
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