ACCOUNTANCY DAILY: Quantum employment forcing tax and pay admin shift

ACCOUNTANCY DAILY: Quantum employment forcing tax and pay admin shift

The rise of the self-employed ‘quantum worker’, who takes on multiple assignments, demands a change in how businesses manage their payroll and tax management, says John Whelan, CEO of My Digital

Today, one in seven workers in the UK are self employed, while over a third of workers in the US have performed some kind of freelance work in the last six months. Traditionally, the domain of industries like construction and healthcare, the entire economy is now being transformed by workers demanding more flexible, incremental work while employers look to harness more temporary and part-time contractors.

This has only been partially captured by terms like ‘the gig economy’. A better term would be ‘quantum employment’, where work has the ability to be reduced to the smallest, most incremental, instances of both money and time.

This trend has only been accelerated by Covid-19, and this has big implications for accountants working in-house or for agencies, many of whom are now ‘quantum’ workers themselves.

According to the latest ONS data…

Read more in ACCOUNTANCY DAILY here:
https://www.accountancydaily.co/quantum-employment-forcing-tax-and-pay-admin-shift