Alarm bells are ringing
Earlier this year, research revealed that more than 50,000 sole traders could be at risk of fines for failing to comply with legislation requiring employers' liability (EL) insurance for seasonal and part-time staff. Liz Booth reports on the problem and asks, is it already too late for them to act?
A study by More Than Business has alarmingly revealed that 73% of sole traders were unaware of changes in the law last year and that some 21% did not understand what EL cover provided.
In addition, Royal & Sun Alliance (RSA) found that sole traders could be facing fines collectively of £125m a day - or up to £2,500 each a day. And not only are they facing fines from the authorities but they also run the risk of facing a bill for compensation and legal fees if an employee is injured or becomes ill
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