More proof that the contracting life has huge appeal in the UK

Newly published research from specialist lender and savings bank Aldermore has supported last week’s findings from the Scottish Widows Centre for the Modern Family survey – both pieces of research confirming that UK workers are huge fans of the contracting lifestyle, or are seriously considering taking the plunge.

This new report was based on a survey of 2,088 people in the UK, of which 1,079 were employees, and was carried out by YouGov. It found that that 15% of people – equivalent to four million British workers - are aiming to work for themselves at some point in the future, while 22% said that becoming self-employed had always been an ambition.

Of the 15% who said they were planning to go self-employed at some point, 12% of these said they intended to do so in the next six months if possible – so it’s clear that 2017 is really proving to be the year that people start to reconsider their life choices when it comes to how they work. Others however - around 25% - said it might take five years or more.

Having said that, a quarter of all those surveyed said they would only make the move to a contracting or freelancing lifestyle if they were made redundant, and 20% said they would only do so if they became unhappy in their current permanent role. Both of which are proven reasons which happy self-employed Brits have stated was the original factor behind their initial move into contracting.

Looking at reasons why people would choose to go contracting, 37% of all those surveyed said it was all about earning a higher rate of pay. But when you look at just the 25 to 34 year olds, that percentage leaps to almost half – 48%. Better work life balance was also one of the highest scored reasons, with over a third – 35% - of people citing this as a key reason.

Focusing specifically on respondents who were already contracting, a huge 93% said they enjoyed working for themselves, and 83% said they left that they were very much in control of their own future.

Commenting on the findings, Aldermore’s Group Managing Director for Mortgages Charles Haresnape said, “Taking the step to become self-employed is a brave and bold decision and we love the fact that in the UK more and more people are doing so.”

Call Back Request

Image CAPTCHA
Enter the characters shown in the image.

Speak to a
friendly expert
01442 275789

Monday to Thursday (8am to 8pm)

Friday (8am to 7pm)

Saturday (10am to 4pm)

SJD Accountancy

SJD Accountancy are the UK's largest specialist provider of fixed fee, Limited company accountancy services to contractors; we've been acting for contractors across the UK since 1992 and have more than 15,000 clients.

We are the only national specialist firm of contractor accountants with offices nationwide. SJD Accountancy has more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies - ATT, AAT, CTA, ACCA, CA, ACA and FCCA.

  • Unlimited face to face meetings. This is a unique service only SJD Accountancy offers - unlimited face to face meetings across the UK - tax is complicated and sometimes only a meeting will do.
  • UK's largest contractor accountants with more qualified staff. No call centres, no outsourcing, no automated call handling. Simply telephone, email or meet your own dedicated accountant face to face.
  • Money back service guarantee. All your Emails received by 4pm on any normal working day will be answered the same day. Should it be necessary to leave a telephone message it will be answered same day/following day latest or we will make a full refund of that months fee.
  • Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market, including: Best Accountant for Contractors, Accountant of the Year and Best Professional Service Team to name just a few.
  • All inclusive low cost fixed fee accountancy package which includes completion of accounts*, payroll bureau, dividends and corporation tax computations, personal taxation, free bookkeeping software, your own dedicated accountant* and all company returns for a fixed fee starting from £120 plus VAT per month. Check our packages for more detail.

If you have any questions about contracting or would like any further advice please call our new business team on 01442 275789 or email: newbusiness@sjdaccountancy.com. Our new business team is open Monday to Thursday (8am to 8pm), Friday (8am to 7pm) and Saturday (10am to 4pm)

Appoint SJD Accountancy and never worry about your tax or accountancy affairs again.

Form your own limited company with SJD - our same day online company formation service includes company bank account set up, VAT/PAYE registration and advice on optimum share structure. 

You may also find the following pages, guides and case studies useful:

*If you would like us to complete your company year end accounts we simply ask that you have been a client of SJD for one year or have made 12 monthly payments. All accountants are part or fully qualified.