SJD Accountancy has witnessed a 70% rise in the number of contractors coming into the market and going limited.

SJD, which manages the tax affairs of more than 10,000 limited companies, attributes the increase to factors including ongoing pressure to cut costs and remove permanent headcount in the private sector.

Figures from YouGov reveal a third of the UK workforce would like to set up their own company.

Simon Dolan, managing director of SJD Accountancy, says: “Historically, the contractor and freelancer market has been dominated by IT contractors. However, in the past few years there has been a shift in that we are seeing many traditionally permanent job roles being converted into contract positions, including HR, sales, marketing, healthcare and engineering.”