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What a snap election might mean for contractors

election 2017

Following the announcement that a snap General Election is to be held on 8th June, one of the UK’s leading voices for independent professionals has been asking what contractors can expect if Mrs. May succeeds in obtaining a stronger mandate from the electorate.

The Association of Independent Professionals and the Self-Employed (IPSE) has been considering some of the key implications for its members should the Conservatives secure a larger parliamentary majority.

NICs for the self-employed

In the Spring Budget Chancellor Philip Hammond announced plans to hike up National Insurance for the self-employed, but then had to eat his words as the government backtracked and withdrew the measure. This U-turn almost certainly would not have happened had the government held a larger majority. Additionally, the Conservatives only pledged not to raise income tax and National Insurance in this parliament, an obligation which ceases with the General Election. Therefore, IPSE anticipates that raising self-employed NICs will be firmly back on the agenda.

The Taylor Review

Last year the Prime Minister appointed Matthew Taylor to conduct a report on the future of self-employment in the modern age, due to be delivered in June. See more here.
IPSE suggests that this will be delayed, but not cancelled and that the findings of the review might hold more sway with a newly-elected government. It remains to be seen what a revised definition of self-employment will be and also what rights, if any, will be given to the self-employed.

Make sure you have your say

The General Election will be held on Thursday 8th June 2017. If you are already registered to vote, you do not need to re-register.
If you are not registered to vote you will need to register by Monday 22nd May.
Secure your vote by registering at gov.uk/register-to-vote.

Watch this space

No matter what the outcome of the 2017 General Election, it is clear that working practices will remain high on the political agenda into the next parliament.

We will be monitoring and reporting any developments that could affect Liquid Friday workers or agencies in the run up to polling day and beyond.

Find out how much you could save outsourcing your back-office process by trying out our Savings calculator.
To find out more about our business outsourcing services, call us free on 0800 3166 030 or start a chat now.
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