A survey by Takepayments found that 75% of the self employed are unsure of the current tax thresholds that cover their earnings. Only one in 10 were aware of the HMRC penalty scheme for late filing of tax returns and non-payment of tax and one in 50 thought there would be no consequences at all.

Although self employment fell dramatically during the pandemic to 3.2m, the sector has recovered to 4.24m. These numbers are comparable to 2013.

Law professionals were the best informed about thresholds and filing dates, while retailers were the least knowledgeable on the matter.