We help make your business a success

Hung parliament means more uncertainty for self-employed and small businesses

At a time when stability is in short supply, the UK has woken up to a somewhat uncertain general election result. All but three seats have been declared at time of writing, with the Conservatives securing 316, Labour 261, SNP 35 and Liberal Democrats 12.

However the final seats fall, it won’t affect the final outcome of a hung parliament. It’s a result that only a few weeks ago would have seemed highly unlikely, but the Tory campaign clearly didn’t have the effect the party was hoping for.

What does the result mean for the self-employed and small businesses?

Each of the major parties had set out policies directly relating to freelancers, contractors and small business owners, but the hung parliament means more uncertainty.

Policies such as the reduction in dividend tax allowance and Making Tax Digital were taken out of the Finance Bill after the snap election was announced, with many believing they would quickly return following a Tory win. Exactly what happens to these now remains to be seen.

And with Brexit negotiations due to commence in a matter of days, it’s a time when few would want this level of uncertainty.

It’s been suggested the negotiations could be delayed until a new government is formed, with some even suggesting a second Brexit referendum is now due.

Federation of Small Businesses (FSB) chairman, Mike Cherry said “[Brexit] negotiations should be led by a Government and a prime minister that will be in place for the duration, and so we call for a delay to the scheduled start of negotiations rather than a rush to begin in 11 days’ time. The need for a transition period now becomes even stronger, providing the time to get Brexit right.”

We’ll be watching the fallout from the result closely and will keep you up to date with all the decisions and movements that affect our community of self-employed and small business owners.

Invoice templates

Our invoice templates are professional and sharp. Use them to directly invoice your clients and get paid fast.

Business guides

From understanding expenses to starting a limited company, our downloadable business guides can help you.

Payment reminders

If a client hasn't paid an invoice, download our late payment reminder templates and get that invoice paid fast.

They’ll all be claiming to have the best policies for small and micro-businesses, but it’s up to you to decide who has your best interests in mind.

Headlines constantly deride regulation as pointless meddling, with the ill-sentiment perhaps reaching its apex during the build to the EU referendum.

The mission at Explaain is to make it 10 times easier to read the news. Here's how Jeremy Evans built the company from the ground up & his top tips for you.

The best accounting advice

Our accredited team are on hand to help you choose the best package

We understand that it can be difficult deciding whether or not to switch accountants, but at Crunch we’ll offer you fair, unbiased advice on what’s best for you.