New Job contract would benefit smaller firms

New job contract option ‘would benefit small firms’

Small and medium-sized businesses should be allowed to treat workers as self-employed, research group the Adam Smith Institute (ASI) has proposed. The group claims that such a measure would release small firms from the administrative burdens of calculating PAYE and National Insurance, and they would not have to fund statutory sick pay for 28 weeks. It adds that if the Government were to consider the idea, it could introduce the new ‘self-employed under contract’ option relatively quickly to boost the economy.