I was just listening to the contractor accountancy webinar done by Accounting Web.
The elephant in the room seemed to be the new off paroll rules for the private sector.
I was surprised that this wasn't really discussed.
I can't understand how these type of firms will be able to maintain their current client numbers and current number of employees given the new off payroll rules.
I would estimate these firms will lose around 50% of their accountancy revenue and consequently will probably need to make a similar proportion of redundancies too.
The whole webinar felt a bit like the start of the Titanic movie, with no one acknowledging that the ship could be damaged and sink.
Surely these contractor firms will go the same way as Blockbusters, Kodak, and many shops on the high street.
Am I the only person who felt like the webinar was a bit bizarre?
No real mention of how they have managed coronavirus schemes, furlough, etc too.