Government must get behind pension solutions for self-employed

(1 minute to read)

Pensions Awareness Day highlights the fact that over half of self-employed workers do not have a pension.

In light of Pensions Awareness Day, the Association of Independent Professionals and the Self-Employed (IPSE) has warned that over three million self-employed could face ‘bleak later years’.

The IPSE has said that unless there is urgent change, millions of self-employed people could be left without a pension within the next 10 years.

Worryingly, 55% of self-employed people do not have a pension and at the current growth rate, the number of self-employed will hit six million by 2028, leaving 3.3 million without a pension.

1.74 million would also have no savings for later life through pensions, ISAs, assets or any other means.

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Jonathan Lima-Matthews from IPSE, commented, “It is deeply worrying that so many hardworking people could be left facing bleak later years because there simply aren’t products that work for them.

“Freelancers are the essential drivers of innovation for the UK economy, so we all rely on them being given every chance to thrive. The government has done some positive work, but it must urgently get behind innovative pensions solutions and push the industry to do much more. The longer this is left, the worse it will get.”

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

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, 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 £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. 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 changes in Public Sector IR35 Legislation 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 – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that 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.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

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 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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