What does an IPSE membership offer if I’m not working at the moment?
- 23 Oct 2020
- Patrick Carter
2020 has been a tough year for most people, not least for IPSE members and the self-employed generally. With Covid-19 restrictions in place for most of the country, for most of the year, it is not surprising that many have lost out on work or found themselves between contracts. So it is worthwhile to ask: ‘What can I get out of my IPSE membership if I’m not currently contracting?’
Can HMRC still investigate me if I’m not working?
First and most importantly your IPSE membership will protect you against any HMRC investigation while it remains valid. HMRC can launch a tax investigation at any time, even if you are not currently trading, and they can look back retrospectively at six years of a company’s history and returns. There is some speculation that the Revenue will soon be looking at ways to recoup losses incurred by providing the various financial packages offered to support people and businesses through the coronavirus pandemic. Your IPSE Membership ensures that, if this happens, we have you covered.
As a member, we will also keep you up-to-date with all of the issues that may impact on you returning to contracting through our weekly webinars, newsletter, regular updates on the IPSE website and via our social media channels.
Your support also means that we can continue to lobby for a better deal for the self-employed so that when you do go back to work you do so in a fairer environment. We can only do this with the help of our members.
Money-saving deals for IPSE members
As well as keeping you protected and informed, your IPSE membership could also save you money. With IPSE Rewards you have access to discounts on hundreds of products and services, from high street brands and groceries, to brand new tech and days out (or in).
For example, at the time of writing, you can get discounts on shopping from Tesco and Sainsburys, gadgets from Apple, Dell and Currys PC World and, if you’ve found somewhere safe to travel, you can even get money off the cost of holidays from lastminute.com and Hotelopia.
Please be aware that the offers available through IPSE Rewards are updated regularly so keep checking back to see what deals you can get.
We’re here for when you find self-employed work
Anecdotally, we are now starting to see cautious signs of recovery and as the contractor job market begins to open up, IPSE will be here to support you too. If you are offered a new contract, our IR35 contract review service can ensure that it complies with IR35 regulations. The IPSE Library and Markel Law Hub mean that you have access to all the documents and resources you need to take on a new engagement and, if things go wrong in these uncertain times, IPSE Standard and Plus members can claim compensation where a contract is agreed with an agency but then does not commence.
Whether you are looking for a new contract now, or waiting for the ideal role to come up, your IPSE membership will make sure you have the information and resources you need to take the opportunity when it comes and the security of having us at your back.
If you are taking an extended break from contracting, or are in the process of or planning to close your company, please contact the membership team on 0208 897 9970 to discuss your options as you may still be vulnerable to a tax investigation. If you have any queries about any of the benefits mentioned above, please drop us an email at [email protected].
Patrick Carter, membership co-ordinator at IPSE, explains the benefits of the Standard and Plus memberships.
Not sure if your contract is inside or outside IR35? One way to protect yourself is get your contract professionally assessed. Find out how today.
Meet the author
Membership co-ordinator at IPSE
Latest blogs from IPSE
Late payment during the pandemic is harming freelancers’ financial prospects – but help may be on the way
IPSE's Alasdair Hutchison discusses our new research and how late payment is hitting freelancers' finances during coronavirus.
- 17 Nov 2020
IPSE members benefit from access to life assurance and a pension. Membership co-ordinator Patrick Carter explains the future benefits of an IPSE membership.
- 6 Nov 2020
In this third and final blog in our series, we take a look at what the last recession can tell us about what coronavirus means for freelancers.
- 6 Nov 2020
IPSE's Alasdair Hutchison rounds up developments this week affecting freelancers, including the new SEISS grants, changes to the furlough scheme and Universal Credit.
- 6 Nov 2020
Former Freelancer of the Year Iona Bain explains why freelancers should consider investing.
- 3 Nov 2020