Re: Capita issued its first ever profit warning...
"A decade ago isn't long enough to account for IR35. That must have been something else."
According to a recruitment consultant I chatted to in the mid-80s, some Sir Humphrey decided to make a name for himself and force contractors off self-employment status, form Limited Companies instead, and be liable for both sides of NI.
As any accountant worth his salt would tell you, typical contractor rates at the time didn't warrant going the Ltd Co route; at those turnover levels self-employed status was more appropriate.
Biting the hand that feeds IT
