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IR35 private sector preparation: What do the banks actions mean for IT contractors?

22nd May 2026

News & General

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IR35 private sector preparation: What do the banks actions mean for IT contractors?

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IR35 infographic

With the private sector IR35 reforms round the corner, a number of financial servics firms are thinning out their contractor workforce. But is this really the way to ensure compliance?

Here’s how some of the major banks, HSBC, Lloyds and Barclays have reacted.

About the Author

John Bell

John founded Clarke Bell in 1994 after qualifying as a Licensed Insolvency Practitioner. He is also a Fellow of the Institute of Chartered Accountants in England and Wales. With more than 35 years of experience in corporate insolvency, John has helped shape Clarke Bell into a firm known for professional advice, transparent fees and a friendly, efficient service.

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