The UK Economy News

Following this afternoon’s Autumn Statement, we hear from Phillip Venn, commercial director of Boox, on the plans announced in today's Autumn Statement that affect the self-employed workforce.

Boox provides a fast and simple service for the self-employed to administer tax efficient businesses using a combination of professional advisers and cloud-based software.



                     

When an employee goes into self-employment, their outgoing costs continue as normal but their incomings can often become unstable. Boox is there to help keep things steady during periods of uncertainty.

Venn says:

"In today’s Autumn Statement, George Osborne announced a number of plans that affect the self-employed worker. Pension tax relief cuts and tougher measures to weed out tax evaders could all make becoming self-employed a confusing prospect and, for some, less appealing. For those who are looking to go it alone in order to be their own boss or to improve their work/life balance, it is now more important than ever to get advice from trusted professionals in all aspects of tax and account administration.

The recently commissioned Boox Report, an analysis of the UK’s self-employed workforce, revealed that 42% of self-employed workers manage all their work finances themselves. Additionally, four in ten have made errors in their tax calculations by either paying too much or too little. It is clear that many of the 4.2 million self-employed workers in the UK are confused about accounting yet do not seek advice. ”