With findings showing the self-employed are currently mostly financially secure and happy, many are concerned about the future.
A recent IPSE report ‘The Path to Prosperity’, revealed that although 72% of contractors are content with life because of the way that they manage their money, as many as 77% are worried that the finances they have – or are going to save – will not last.
Millions of Britain’s employed workforce are considering joining the self-employed sector because they feel they’re not getting what they want from their current employer.
Research from PeoplePerHour, which surveyed over 1,000 employees, found that as many as 68% have either little or no access to flexible working options, including working from home (64%), annualised hours (64%), flexitime (57%) job sharing (77%) and compressed time (73%).
Self-employed numbers are dropping, with the IPSE suggesting Brexit fears and changes to IR35 tax law are to blame.
Recent ONS figures have shown that overall unemployment has fallen slightly, however, self-employed numbers have also dropped by 94,000.
The Association of Independent Professionals and the Self-Employed (IPSE) think these figures should concern government and the industry.
Jordan Marshall, IPSE’s Policy Development Manager, explained further, “The 94,000 drop in the number of self-employed shows that they are facing increasingly choppy waters.
The APSCo is saddened to hear that Her Majesty’s Treasury is finalising plans to extend off-payroll rules to the private sector.
Especially as Mel Stride MP indicated at a meeting attended with APSCo that he was taking the needs and concerns of business seriously.
Tania Bowers, General Counsel at the Association of Professional Staffing Companies (APSCo), commented, “We are extremely disappointed that HMT appear determined to discount the advice of APSCo, and every other influential body, and charge ahead with these changes providing no time for business to adapt.
According to media speculation, the Chancellor will be using the Budget to extend off-payroll changes to the private sector.
This will come as a major disappointment to the entire self-employed sector after witnessing the havoc caused by the public sector changes.
The Association of Independent Professionals and the Self-Employed (IPSE) has responded to the rumours.
Commenting on the day, IPSE’s Deputy Director of Policy, Andy Chamberlain, said, “Just two weeks ago, the Chancellor stood before the nation and declared the Conservatives ‘have business at its core’.
Recent data has revealed positive news for the UK’s contracting sector regarding rates of pay and billings.
September’s IHS Markit/REC Report on Jobs shows that billings expanded at a slightly quicker pace compared to August, with hourly rates of pay rising much faster. Contractor/temp vacancies also rose further.
Looking at a regional analysis, all four monitored English regions noted increases in billings – the strongest rise was seen in the Midlands, while the weakest expansion was registered in the South of England.
The Recruitment and Employment Confederation (REC) is calling on the government to avoid rushing through IR35 private sector changes.
Citing evidence from public sector changes, the REC believes they could be counterproductive for the Treasury and damage the jobs market at a difficult time for business with Brexit on the horizon.
A new survey of REC members, forming part of their Budget submission, indicates:
Latest data revealed a mild improvement in the performance of the UK manufacturing sector at the end of Q3.
The recent IHS Markit/CIPS Purchasing Managers’ Index (PMI) shows rates of expansion in output and new orders gained traction, while the trend in new export business saw a modest recovery following August's solid contraction.
UK manufacturing production rose for the twenty-sixth successive month in September, with the rate of increase rising to a four-month high.
A contractor has successfully claimed for unpaid holiday pay after HMRC determined that IR35 applied to her engagement and insisted that she join an agency payroll.
A member of the IPSE, Susan Winchester’s landmark case was both funded and backed by the Association of Independent Professionals and the Self-Employed.
The IPSE has responded to a recent TUC report, revealing that half (49%) of self-employed adults aged 25 and over are earning less than minimum wage – a total of two million people.
In the report, it stated that self-employment has accounted for a growing share of the workforce in recent years, rising from 12% of workers in 2001 to 15% in 2018.
But TUC are concerned that the self-employed are earning considerably less than those in employment.