Twenty-one per cent of contractors chased late payments on their summer holiday

(2 minutes to read)

The Association of Independent Professionals and the Self-Employed are calling on the government to clamp down on late payment.

The IPSE is urging the government to do more to tackle late payment in order for contractors to enjoy a better work-life balance.

The IPSE’s report ‘Taking time off as a freelancer’ revealed that nine per cent of contractors didn’t take time off in the last year – this is despite as many as 59% saying that time off gives them a better work-life balance.

Fifty-eight per cent replied to work-related emails while on their summer break, and worryingly, 21% of self-employed professionals spent their time on holiday chasing a late payment.

As a result, the IPSE is calling on the government to end late payment culture to stop contractors having to chase clients during their time off.

Inna Yordanova, Senior Researcher at IPSE and author of the report, commented, “A good work-life balance is essential for wellbeing and mental health. And many people go into self-employment for just that reason: for the flexibility to fit their work around their life, rather than the other way around.”

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Yordanova added, “Our research has found, however, that late payment is a major factor holding many freelancers back from a good work-life balance. Chasing late payments is creating extra stress and taking up disproportionate amounts of freelancers’ time – an average of 20 days a year, in fact.

“To support freelancers across the UK, the government must help them achieve a better work-life balance and improve payment culture. That’s why we’re calling on the government to give more powers to the Small Business Commissioner to clamp down on late payment and even fine the worst offenders.”

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