Latest HMRC data reveals that a record 11.1 million taxpayers have filled in a self-assessment tax return this year, 10.4 million of which did so online.
The Association of Independent Professionals and the Self-Employed(IPSE) says that this rise in the number of self-assessments is because of the growth of the contracting sector.
Alasdair Hutchison, Policy Development Manager at IPSE, explained, “A record number of people have filed tax self-assessments because of the ever-growing number of self-employed people. There are now over 5 million self-employed in the UK and IPSE research shows this is driven by the increase in female freelancers – especially highly skilled professionals.
“The record number of tax self-assessments is not just because there are more people who define themselves as mostly self-employed: it’s also because more people than ever are now doing side-hustles alongside other work.”