The Taylor Review is set to shake things up for the gig economy, but is it for better or worse? We canvassed the business landscape for opinion on the matter.
Halfway through 2016, the term gig economy was thrown into the limelight. Although suggesting a new phenomenon had made an appearance, all that had really happened was that someone came up with a fancier name for freelance work, enhanced by the use of technology. It also prompted the question of whether we should change the law around it.
While the rights given to self-employed workers will improve, any loopholes allowing tax avoidance will be searched for and closed. This was an announcement made by chancellor Philip Hammond in the 2017 Spring Budget.
Businesses who are considering redundancies or settlement agreements are urged to keep an eye on a consultation exercise about simplifying the tax and national insurance treatment of severance payments to employees.
Thanks to the coalition government's Budget, it costs £50,000 more to start a business in the south-east than the rest of the UK.