Finally, some help and opportunities for freelancers and contractors in Friday's matinee mini-budget.
I'm feeling cheered – we may be a bit better off!
Team Truss is off to a flying start.
National Insurance hikes reversed (all classes)
Corporation tax increase scrapped
IR35 reforms reversed from April 2023
Dividend tax planned increase scrapped
£500 million to support innovation funds and attract billions into UK science and tech scaleups
It's the biggest package of tax cuts in 50 years and a pro-small business and entrepreneur budget.
Here's The Growth Plan 2022 in full – working my way through it.
I'm happy about the tax cuts – know they are controversial with mixed views about huge borrowing in the hope of better growth. But they must THINK BIG and take risks to get things moving (and reconsider immigration ;-)
I'm also surprised and delighted about the repeal of the 2017/21 IR35 reforms – hugely controversial and has killed off the contractor market. This will make it easier for companies to be agile and hire talent to keep projects moving, creating more opportunities on open talent platforms.
I look forward to more juicy briefs!
There's still stuff to sort with IR35, but it's a good start. As Dave Chaplin, CEO of Contractor Calculator said: "If the government wants growth, then it needs to make it easier to hire the self-employed and engage with smaller, niche businesses."
I had a good onboarding experience at Yuno Juno - one interview so far for a project on mental health and entrepreneurship, we’ll see. Great to see platforms adopting a freelancer-first mindset.
Energy package – remote workers. A £2,500 cap on bills is still a lot. Not looking forward to WFH this winter. Can't work with a cold nose but can't afford to have the heating on all day. I will split my week between home, coffee shops, library, and co-working spaces – taking all the free trials I can get.
Dunelm to the rescue. Heating-free warmth. Just discovered their long hot water bottles and oversized blanket hoodies. Sure to keep you nice and toasty 🤗
A big, bold budget in an otherwise depressing, hardcore news narrative.
It's not a full budget – analysis & forecast to follow from the Office for Budget Responsibility later this year - time will tell!
- Nika
The Association for the Future of Work (AFR)
Underpinned has launched a new website for The Association for the Future of Work.
Building a fairer, more productive, and prosperous future of working, including supporting freelancers and the self-employed.
Bringing together bright minds, companies, and organisations to help create opportunities, and give people the infrastructure to have successful careers – in whatever form.
Much needed with the narrow, full-time employment focus of the UK education system - and for those leaving employment for freelancing freedom.
Next event: A roundtable in London on October 6. Find out more & get involved here.
Get in touch if you have a project to share, a link suggestion, or just want to say hi 👋
