The Federation of Small Businesses (FSB) has predicted a boom in the number of people becoming self-employed in the next year, expecting a record number of 300,000 new small businesses to be formed.

The FSB welcomes the development saying it will grow the economy and could lead to the creation of more jobs in the future as some of the businesses flourish. The FSB also warns people going it alone to be aware of tax rules if they go to work for other companies during the time that they become self-employed as the HMRC will seek to change their legal status from self-employed to employee. National Chairman of the FSB, John Walker, said:

"The FSB is calling on HMRC to respect peoples wishes to be self-employed and for the HMRC to cease their tactics in pushing people into the PAYE net."

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