{"id":27574,"date":"2015-01-30T14:14:26","date_gmt":"2015-01-30T14:14:26","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=27574"},"modified":"2015-01-30T14:14:44","modified_gmt":"2015-01-30T14:14:44","slug":"the-self-employeds-income-new-data-shows-77-are-in-poverty","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2015\/01\/30\/the-self-employeds-income-new-data-shows-77-are-in-poverty\/","title":{"rendered":"The self employed’s income – new data shows 77% are in poverty"},"content":{"rendered":"

Amongst the new tax data from HMRC published today was updated information on the income of the self employed<\/a>. That for 2012\/13, the most recent year, was as follows:<\/p>\n

\"Screen<\/a><\/p>\n

That was interesting. It shows a large number of the self employed are part time, and earning as much or more from employment as self employment. That means the government's assumption that a self employed person is a full time person is nonsense, to be polite.<\/p>\n

It is also quite remarkable that one sixth of all self employed people are also in receipt of a pension.<\/p>\n

But a little more digging revealed much more interesting data. Over the first three years of the Coalition's life this is a summary of the data:<\/p>\n

\"Screen<\/a><\/p>\n

The income of the self employed earning less than \u00a3100,000 fell over this period.<\/p>\n

The average income of those earning more than \u00a3100,000 was staggeringly different:<\/p>\n

\"Screen<\/a><\/p>\n

Over the period this rose, of course. Only a little, but it did rise (and band inflation given the overall rate of earnings inflation during this period is not going to explain this).<\/p>\n

So, what are the conclusions?<\/p>\n

First, if mean pay is about \u00a320,000 then 91.5% of self employed people earn mean pay or less.<\/p>\n

Second, if two thirds of median pay is a measure of poverty (or \u00a315,000 or less here, at least) then 84% of the self employed would be in poverty based on their self employed earnings and 77% are based on total income.<\/p>\n

Third, the top 1.7% of self employed earners make 30.7% of all self employed profits.<\/p>\n

And the average earnings of a person in the top 1.7% income bracket of self employed people makes 25.5 times more than the average for all other self employed people.<\/p>\n

If this is a market based solution to inequality it very clearly fails.<\/p>\n

Although I would add, I suspect all these figures are understated because of tax evasion, but right across the board.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amongst the new tax data from HMRC published today was updated information on the income of the self employed. That for 2012\/13, the most recent
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,147],"tags":[],"class_list":["post-27574","post","type-post","status-publish","format-standard","hentry","category-economics","category-inequality"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/27574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=27574"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/27574\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=27574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=27574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=27574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}