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Half of all freelancers planning to quit

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Research from the freelance trade body IPSE reveals that half of all freelancers plan to quit self-employment for good. A quarter of those planning to quit will seek work abroad while a sixth intend to return to full-time employment. One in 10 had plans to stop working altogether, IPSE said, while 11% said they would retire within the year. Since the pandemic started, the number of self-employed workers has dropped to fewer than 4.3m from more than 5m a year ago, reversing a decade-long upward trend. Upcoming tax changes will provide another blow to the self-employed. Andrew Chamberlain of IPSE said: “The pandemic has done disproportionate financial damage to the self-employed sector: after this, it simply cannot take the added hit of the changes to IR35.”

 

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