Self-employed will benefit from drop in inflation

(2 minutes to read)

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The IPSE has welcomed the fall in UK inflation, but says government policy is still a concern for contractors.

Latest ONS data shows that inflation fell to 2.3% last month, down from 2.4% in October.

However, the Association of Independent Professionals and the Self-Employed (IPSE) warn that government IR35 tax policy is still worrying the UK’s self-employed sector.

Andy Chamberlain, IPSE’s Deputy Director of Policy, commented, “The drop in inflation will be welcomed by many across the UK because it means that people will feel more money in their pocket – a particularly positive development at this time of year.

“As inflation steadily falls towards the Bank of England’s target rate of two per cent, the most pleasing aspect is that petrol prices are fuelling the fall in inflation. With many self-employed people spending more time travelling to multiple clients or to win new work, the fall will make a real difference to their everyday business costs.”

He added, “While the fall in inflation will be welcome news for the self-employed, concerns remain. Only last month IPSE research found that freelancers expect government policy to drive their business and the wider economy into decline over the next 12 months.

“With freelancer confidence at near record lows and uncertainty over Brexit increasing by the day, the government should prioritise the self-employed as we enter such a crucial period for the economy.”

Working in the Public Sector and wondering if your contract is inside of IR35? please give us a call on 01206 591 000 or email info@contractorumbrella.com to discuss your contract.

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