Ryan Barnett explains why Shared Parental Leave (SPL) should be extended to the self-employed.
- 15 Jul 2019
Branching out on your own can be a daunting financial undertaking. All of a sudden, there are things like taxes and pensions that at one point you had an accounts department and HR representative to look after that are now solely down to you. For many, it’s overwhelming at the best of times. This is why IPSE, The Association of Independent Professionals and the Self-Employed, has introduced a range of membership benefits over the years that aim to take away this burden, and help its members save money.
Some of the easiest ways to lose money unnecessarily are through tax complications, legal issues or not having the right contract in place.
To avoid any mistakes when it comes to taxes, IPSE members get access to a dedicated tax helpline, which provides them with all the advice and guidance required to ease the burden of tax, delivered by knowledgeable and friendly taxation experts.
These experts provide guidance around:
Members also have unlimited calls for legal support on business matters to a dedicated 24-hour legal helpline. By receiving quick, friendly, pragmatic advice and recommendations from fully qualified and experienced lawyers, IPSE members are able to either avoid legal issues before they arise or tackle any legal queries head-on without having to get expensive lawyers involved.
This type of proactive cover also boils down to having the correct contracts in place – an essential part of every freelancer’s toolkit. Not only do they outline the wants, needs and expectations of the parties, but they also provide a legal framework within which these will be achieved; and a backup should legal intervention be required.
Contracts are essential for detailing what you will be paid for, for how much, and for avoiding the scourge of late payment, ultimately saving you from losing any income.
In addition to the tax helpline, IPSE also finds its members the best service providers it can.
Their supplier directory acts as a one-stop-shop for finding an accredited accountant so that you know you’re getting a trusted service without having to waste time searching the internet.
By sourcing the right services, such as an accountant, IPSE members can avoid paying more than they should and are able to get professional help to take over the bits of business that are best outsourced, leaving you time to focus on doing what you do best.
The IPSE Rewards platform furthers the value that IPSE provides its members. Through this platform, IPSE members can access a wide collection of rewards and savings that are available from some of the UK’s biggest brands, such as the latest technology on the market, your favourite restaurants and delivery services, high street shopping and more.
By taking advantage of IPSE Rewards, members could easily save more than the IPSE membership fee every year.
It’s important for any self-employed person to have the right protections in place should anything go wrong. IPSE has carefully put together a range of insurance benefits so that its members can have peace of mind, knowing they are protected.
For example, should you have a dispute with HMRC, the entire HMRC compliance check is handled. This is from the first letter landing on your doormat right through to tribunal, if necessary.
This saves members the time and money of hiring outside help and wasting their own valuable business time. If HMRC want to proceed with the check, IPSE will represent you at no cost. Without IPSE’s expert help, this has the potential to be a long and costly process.
Other money-saving safety net benefits include:
Saving for your future is crucial but can be daunting, so IPSE has negotiated a group pensions rate with Aegon, one of the UK’s leading pension providers. Aegon provide a wide range of investment options to make the transition into retirement as seamless as possible.
IPSE Plus members also receive £5,000 life assurance as standard; once activated, you can choose to increase this up to £250,000 at a discounted rate. This way, you can work with the peace of mind that your loved ones will be cared for.
As technology and business advances it is essential that, as an independent professional, you are keeping your skills and knowledge up to date to maintain a competitive advantage. Often, freelancers are less likely to engage in training due to costs and lack of flexibility. That’s why the organisation launched IPSE Academy, which offers discounted courses and training providers.
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