Qdos Annual Contracting Survey Results

The results are in.  Qdos have released their annual contracting survey results for 2021, and key insights from self-employed sole traders include: Nearly half of survey respondents (45%) said that the pandemic had a negative impact on their business, with the majority (78%) losing up to 50% of their earnings; They were divided in terms […]

A Final Kick In The Teeth For The Excluded

In a final kick in the teeth for many self-employed and PAYE company directors who were excluded from the government’s COVID financial support, it has now been confirmed that the Treasury expects to recover only £1 of every £4 fraudulently claimed during the pandemic. Unbelievably, this means writing off £4.3bn of the £5.8bn of taxpayer […]

One In Four Are Considering Leaving Self Employment

Many self-employed people are still struggling to rebuild their business to where it was pre-pandemic, with one in four (23%) saying that conditions are so bad that they are considering stopping self-employment altogether.  Other insights from latest research by Aldermore Bank are: Over half (51%) of self-employed people think their financial situation has become worse […]

Action Against Companies Fraudulently Claiming COVID Support

The Insolvency Service has taken firm action against two companies that fraudulently applied for thousands of pounds worth of COVID support loans, and the businesses have now been shut down.  The two separate companies submitted false documents to at least 41 local authorities and the Government’s Bounce Back Loan scheme to secure £230,000 worth of […]

Planned Redundancies Lowest Level for Years

Employers are planning the lowest number of job cuts for over six years, with latest figures from the Insolvency Service showing 15,661 positions at risk in June 2021.  One year ago the comparable figure was ten times higher, the worst on record. Employers planning 20 or more redundancies have to file a form called HR1 […]

Insolvency Service Action Against COVID-19 Fraud

The Insolvency Service has taken decisive action against businesses that were found to have abused COVID-19 financial support.  A company director was disqualified for 12 years and five other companies wound-up in the public interest after fraudulently claiming COVID-19 business support. Raashid Khan fraudulently claimed £50,000 through the Bounce Back Loan Scheme (BBLS) before transferring […]

Furlough Numbers Fall To Their Lowest Level Yet

Furlough numbers have fallen to their lowest level this year, according to official statistics which confirm that the number of people relying on the scheme fell to 3.4 million. 1.3 million fewer employees accessed the furlough scheme in March and April according to new data showing our focus on jobs continues to pay off the […]

Jobs of the Future Are Already Here

According to an article published on the World Economic Forum, ‘Jobs of the Future’ have arrived early and are already here.  The top 10 emerging professions are: Work from Home Facilitator Fitness Commitment Counsellor Smart Home Design Manager XR Immersion Counsellor Workplace Environment Architect Algorithm Bias Auditor Data Detective Cyber Calamity Forecaster Tidewater Architect Human-Machine […]

New Insolvency Service Powers To Tackle “Phoenixism”

The Insolvency Service will be given powers to investigate directors of companies that have been dissolved, closing a legal loophole of fraudulently avoiding repayment of Government backed loans given to businesses to support them during the COVID-19 pandemic. Improved powers and greater sanctions against unscrupulous directors has been on the Insolvency Service agenda for years, […]