How will Brexit and a General Election affect Contractors?

On 18th April 2017, the UK Prime Minister surprised the entire country by announcing that she was calling an election on Thursday 8th June 2017. Prior to this announcement, she had ruled out a snap election when she moved into Downing Street. The reasoning? To strengthen her hand in the Brexit negotiations with the various European leaders.

The main concern of British Contractors are residency Status

White November has found that a vast majority of our seasoned contractors would prefer a ‘soft’ Brexit and many would support a second referendum. Since the referendum result in June 2016, White November has received a number of enquiries from British contractors working in the EU. The main concerns are residency status. Apart from the advantages of higher earnings, being able to work/move freely around the EU and not have the complications of residency permits has always been an attractive factor to our contractors.

Agencies too are concerned about being in a position where they will be forced to weigh up the benefits of using a UK citizen contractor or an EU national. Apart from ensuring Contractors remain tax compliant whilst working in Europe, White November also offer company formation services. Many UK companies are concerned of the potential impact of Brexit and the type of relationship they may have in the future when conducting business in the EU. Despite White November being based in Malta, which is one of the EU’s smallest states, Malta has become one of the most exciting countries to watch and invest in.

Soft versus hard Brexit

Should the Conservatives win a majority, many are concerned that a ‘hard’ Brexit involving the UK refusing to compromise on issues like free movement of people will cause lasting damage. A softer Brexit, similar to Norway’s relationship with the EU seems to be a common choice amongst UK Contractors. A great deal of news has focused on multinational corporations looking to relocate from the UK post Brexit, whereas many others have said they are increasing their presence such as Facebook and Google.

A flexible immigration system post Brexit is the biggest hope for many Contractors

We still believe that highly skilled UK Contractors will always be an attractive option for many EU based Companies. Apart from local policies on health, education and tax, the UK General Election is a chance for all to decide what sort of parliament is in place when the historic moment arrives.  However, can Theresa May convince people that under her rule, her party will truly be a party for all People? Or can Jeremy Corbyn bring his party together after it’s highly published turmoil over Europe as well as his own leadership?

It’s clear the next 2 years will bring up a number of questions and uncertainty for many, however White November plan on being on hand to discuss tax compliancy, residency as well as many other country specific information for UK and EU nationals.

Contact us on info@wnic.eu for further details or call us on +356 2010 6000.

Sandi Piper
Sandi Piper
Relationship Manager