With the Chancellor’s Autumn Budget on the horizon the Treasury has reached out and asked for input into the Chancellor’s statement. IPSE have taken the lead and proposed a number of policy changes, which would benefit 4.6 million self-employed people.
Simon McVicker, IPSE’s Head of Policy and External Affairs said:
“The policy proposals we are recommending will deliver a simpler tax system, a flexible pension scheme, a fairer approach to training and most importantly, a level playing field for independent professionals.”
IPSE made a number of proposals covering recognition, starting out, infrastructure, taxation and regulation & barriers to business. The main policy proposals proposed by IPSE include:
- Create a Minister for self-employment within the Department for Business, Innovation and Skills (BIS) with a specific focus on the needs of this group.
- Create a new pension scheme for the self-employed, provided by the National Employment Savings Trust (NEST).
- Change the tax treatment of training for the self-employed.
- Enable mothers who are self-employed to claim Statutory Maternity Pay (SMP) and radically re-examine how the self-employed are treated for maternity and paternity-related benefits.
- Cut business rates for workhubs.
- Make it easy for independent professionals to move between statuses.
- Set up an independent body of experts to implement the merger of income tax and National Insurance.
IPSE states that any future Government will need to respond to the dramatic changes in the way Britain works, focusing on the big shift towards working self-employed.
IPSE’s proposals are designed to provide direction and guidance, which if followed should help to unlock the potential of contractors and freelancers.
The full list of proposals can be found in The IPSE Manifesto.