December 4, 2019

Half of self-employed people do not know what IR35 is

New research from FreeAgent conducted with 2000 self employed people in the UK, claims that more than half (57 percent) don’t know what IR35 is. The sets of tax legislation encompassed by IR35, designed to combat tax avoidance by workers and the firms hiring them, is unknown to over half of the people most affected by it – the self employed. The legislation, which has been heavily criticised by tax experts and the business community as being poorly conceived, badly implemented by HMRC and causing unnecessary costs and hardships for genuine small businesses, has not been well communicated to self employed people, the research reveals. Tax experts have predicted that IR35 could reduce a worker’s net income by up to 25 percent and Chancellor of the Exchequer, Sajid Javid, recently announced the Conservative Party’s plan to review IR35 as part of its manifesto. More →

December 2, 2019

What you need to know about paying wages in cryptocurrency

by Freddie Steele • Company news, Promotion

Not all of your employees will prefer to have their hard work rewarded with often volatile cryptocurrencies. However, for those already investing in it, having some or all of their salary given as a digital currency may be more appealing and convenient. Below you can find the details of what you will need, some examples of people already doing it and the obstacles you will face.

To make paying your employees a reality, both you and your workers will need to have some additional things. The first is everyone will need a secure wallet to pay the cryptocurrency in. Making sure the best wallets are chosen is vital because there is no backup to the funds stored in them like there is at a conventional bank. Anyone considering their options should not forget to check out the Luno Bitcoin wallet with exceptional safety and stellar reviews.

The other help you will need as a business is a dedicated team of bookkeepers who know how to track payments in Bitcoin – more on that shortly.

Companies already paying in Bitcoin

There are some firms already making the leap to paying employees in cryptocurrency. Notably, a Japanese firm has started using Bitcoin to pay staff. At the moment, this is rare as most firms find the process difficult due to some legalities and taxation issues.

Another way people have been getting paid in cryptocurrency is through freelancing work via apps. There are many apps on the market that will pay freelance workers to complete projects in exchange for Bitcoin and alike. Earn.com is one of the most established, but many similar apps are available.

Legalities and tax

One of the reasons that some of the most trendy fintech startups are not paying in crypto as of yet is because it is an overly complex procedure. For some, it is just not possible as it is against the law to do so, including in many South American and Asian countries. Even in those that do not make it illegal, the taxation and invoicing practicalities of doing so put them off.

For example, in the USA you can legally pay in crypto, but all forms need to show values in US dollars and sophisticated and specialist accountants and bookkeepers would be required, which adds to business expenses.

Will the rules change?

It is possible that as cryptocurrencies become even more mainstream and accepted – as well as regulations are implemented upon them – the idea of paying in crypto will become not only legal, but more feasible. That day may come, but the wait until it is easy to do may be long.

For now, employees may be better swapping their fiat salaries for crypto with a trusted exchange platform and a reliable wallet.

Image by Icons8_team

November 21, 2019

Nearly half of employers need help to implement flexible working

by Neil Franklin • Flexible working, News

Eighty five percent of employers think demand for flexible working is likely to increase, with demand coming from across the board, but over four in 10 would like more support to implement it, according to a workingmums.co.uk survey. The results of the survey of around 200 employers are interesting in light of current policy discussions about flexible working which tend to focus on forcing employers to flex more by advertising jobs that are flexible from day one and enforcing employees’ flexible working rights. More →

November 19, 2019

Young people mistakenly associate self-employment with more pay and leisure time

by Neil Franklin • Flexible working, News, Wellbeing

Students and school-leavers see self-employment as a route to a higher income, better work-life balance and more family time and so one in five 16 to 21 year olds think they will self-employed at some point, a new analysis from the Office for National Statistics shows. However, other studies from the UK government paint a different picture with people in self-employment generally earning less and working longer hours than their employed contemporaries, but often happy to forgo the certainties of paid work for greater flexibility and control. More →

November 15, 2019

Migration of flexible offices to contribute £12 billion to local economies

by Neil Franklin • News, Property

The increasing migration of flexible offices to the outskirts of major UK cities is creating a ‘flex economy’ that could contribute more than £12 billion to local economies in the next decade. That’s according to the first comprehensive socio-economic study of second-city and suburban workspaces. The analysis, conducted by economists on behalf of Regus, claims that as Brexit uncertainty continues to impact the economic landscape, individual flexible workspaces in suburban areas could be a welcome lifeline for local economies.

November 12, 2019

Uber Works may not be as good for workers as it is for businesses

by Shainaz Firfiray • Comment, Flexible working, Technology

Uber is still best known as a ride-hailing platform but it has been branching out into other industries. Food (Uber eats), electric scooters and bicycles (Jump), and now shift work with the launch of Uber Works. It is being trialled in Chicago, with plans to launch elsewhere soon, and enables casual workers such as cleaners, bar staff and warehouse workers to find work. More →

November 12, 2019

IPSE launches manifesto for the self-employed

by Neil Franklin • News

IPSE (the Association of Independent Professionals and the Self-Employed) has launched #5millionvotes, a manifesto for the 2019 General Election. The manifesto claims to highlight the size and influence of the self-employed sector in the election, as well as outlining the policies parties should adopt to secure the support of freelancers. The number of self-employed has grown enormously in the last ten years to almost 5 million. They are now 15 per cent of the workforce – almost as much as the entire public sector. Collectively, they contribute £305bn to the economy every year, which is enough to fund the NHS twice over. More →

November 4, 2019

Over fifties are driving the rise of self employment

by Neil Franklin • News

Millions of older workers are joining and benefiting from the freelance sector, new research from IPSE (the Association of Independent Professionals and the Self-Employed) claims. IPSE’s research suggests there are now almost two million (1,907,000) self-employed people over the age of 50 in the UK: a number that has increased by 58.5 per cent in the last ten years. The growth is even bigger among highly skilled freelancers. Today, there are almost a million (950,000) highly skilled freelancers in the UK: a number that has risen by 68.2 per cent in the last ten years. More →

October 22, 2019

Many flexible office users would prefer to work in conventional space

by Mark Eltringham • Coworking, News, Property

Joint-research from Gensler and the British Council of Offices (BCO) on the rise of flexible workspace in the UK corporate sector claims that 40 percent of flexible office users would rather work from a conventional office. According to the report, while the future of coworking is increasingly being explored as part of academic and industry research, there has been limited focus on what it means for large corporate occupiers. The 2019 Rise of Flexible Workspace in the Corporate Sector Report (choir members only) aims to identify the drivers of and the barriers to – the use of flexible space and coworking by large corporate occupiers. More →

September 25, 2019

Firms shift to contingent work to stay agile, report claims

by Neil Franklin • Flexible working, News, Workplace

Around a quarter of firms worldwide and mid-sized companies are shifting permanent roles to contingent work positions this year to remain agile, according to a report from Randstad Sourceright. The quarterly Talent Trends study (registration), based on responses from executives, HR managers and other professionals across 17 markets worldwide, claims that businesses are using gig and freelance workers to fill formerly permanent positions. More →

September 16, 2019

Working mums call for more flexible work options

by John Williams • Comment, Flexible working, Workplace design

Women are a key part of a growing contingent workforce of freelancers, consultants and part-timers. Despite numerous government policies to attract more mothers back into the workplace, retention is still a significant struggle. Several data collected indicates working mums who return part-time, combining professional careers with raising a family, are increasingly frustrated. The research shows that the modern workplace often fails to cater for the needs of mothers and carers as they face the pressures of combining busy working lives with lifestyle and family obligations.

August 30, 2019

Back to workplace basics, the joy and pain of work, squeezing people in and some other stuff

by Mark Eltringham • Features, Wellbeing, Workplace design

Let’s get the inevitable WeWork story out of the way first. A supposed news item in Crain’s New York Business has claimed that WeWork is ‘squeezing’ people into half the space recommended in the BCO’s Specification Guide; “roughly the size of two standard doors laying side by side”. You can see the editorial cogs at work here, combining a story about WeWork with one about how people are crammed into the workplace like cattle these days.