Record Number Turn to Contracting
According to SJD Accountancy, the number of limited company formations and new contractors has gone up substantially this year.
The companies and contractors which SJD mentioned about all belonged to the large audit market of UK.
SJD Accountancy is the United Kingdom’s largest specialist accountants to freelancers and contractors. It mostly deals with freelancers and contractors though it also has big firms as its clients.
SJD Accountancy has seen a 65% growth in the number of people who are planning to do freelancing work or work for themselves. SJD came up with the figure after comparing the number of people willing to go for contracting and freelancing in the last year.
The finding is being taken by the audit market of UK as one that is heralding a change to the country’s working model.
A spokesperson of SJD Accountancy has said in a statement that there are several reasons behind this increase in contracting and freelancing work the industry is experiencing.
The cuts to the benefits the so-called “jobs for life” are witnessing, which includes the loss of golden handshakes, the end of final salary pension schemes, pay freezes and down sizing are the responsible factors behind this trend.