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The latest Economy 2030 Inquiry, a three-year project to explore the nature of economic change throughout the UK, has been released.

Responding to the report, the Recruitment and Employment Confederation (REC) Chief Executive Neil Carberry, said, “We support government looking at a refreshed tax strategy that boosts productivity, better backs business investment and encourages entrepreneurialism.

“According to our recent JobsOutlook survey, firms feel more confident again about hiring and about the wider economy which makes it the right time to capitalise on that building confidence.

“The REC has previously argued against raising Employer National Insurance contributions which is simply a ‘tax’ on jobs and therefore a bill on activity rather than profits.

“Certainly, any fall in National Insurance will help labour-intensive sectors which are still trying to recover from the pandemic slump and manage ongoing labour shortages.

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“It would be a step in the right direction but is not a significant enough move to make a great difference if it means a National Insurance hike elsewhere in the labour chain, especially at a time of cost-of-living crisis and labour shortages.

“There is also a risk that a rise in National Insurance for higher income self-employed may put off people from working in sectors such as IT and engineering where there are shortages of skilled temporary and permanent staff.

“A more jobs friendly tax strategy is only part of the solution to rocket us away from the pandemic slowdown. We need greater government action, from skills reform to immigration and employment regulation, to get growth going. Tax tinkering will only have the desired impact if it links to a cohesive industrial strategy that encourages businesses out of their cautious state.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Why Thousands of Contractors Choose Dolan Accountancy

With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £125 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few
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