IT contractors value lifestyle benefits over lower tax, says survey

IT contractors put lifestyle benefits above financial rewards, according to contract services provider Giant Group.

IT contractors put lifestyle benefits above financial rewards, according to contract services provider Giant Group.

The company asked 2,000 IT contractors what they valued more, in light of recent policy changes meaning they may have to pay more tax.

Traditionally contractors have been seen by government as "focussing on saving tax" by taking contract work instead of salaried jobs, according to Giant.

But they say the most important factor influencing contractors to work freelance was the lifestyle and flexible working benefits. The survey showed 37% chose this as their most important factor, while 22% said it was the opportunity to charge more for their work, and 15% said reducing their tax bill was their prime consideration.

A siginficant 61% of contractors said they thought the variety of work was better when freelancing than when working as an as a permanent staff member, and 57% said they had greater autonomy than employees.

Matthew Brown, managing director of Giant, said, "This research gives the lie to the myth that contractors are primarily motivated by tax savings, yet to an extent that erroneous belief has driven much policy towards them in recent years."




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