Making the jump from employed to self-employed

 

It has been announced recently that the number of people in work rose to 30.43m – a record high and almost three quarters of million up on the same period last year, driving down the unemployment rate to its lowest level in more than five years.

Unemployment fell to 6.8% in the first 3 months of 2014, the Office for National Statistics (ONS) has revealed. The ONS attributed this increase this is due to the rise in self-employment with almost one in seven people – some 4.55m – now being self-employed, the highest level since records began in 1971.

Other key figures include:

  • The number of full-time self-employed workers increased by 336,000 to reach 18.9 million between Q1 2013 and Q1 2014
  • The number of self-employed people working part-time increased by 138,000 to reach 1.29 million between Q1 2013 and Q1 2014
  • Pay including bonuses increased by 1.7% in Q1 2014 compared to a year earlier
  • Pay excluding bonuses was 1.3% higher

If you are currently self-employed or looking to be HMRC has released a general guide as to whether or not a worker is an employee or self-employed, you can view this here.

At Leonherman we believe in putting our clients first and work with you to achieve your business dreams and ambitions not matter how large or small get in touch to find out how we can support you or call 0161 249 5040