Erin Williams works alone, but she’s being stung by payroll tax

The solo broker is among thousands soon to be slugged, as a tax on employment becomes a tax on some small businesses.

After 20 years in the financial industry, Erin Williams set up her mortgage broking business as a sole operator in February 2024. She is the last person one would expect to need to pay payroll tax.

“I was always advised it was not applicable,” Williams said. “I’m not paid wages … I simply get passed on commission from the bank, and I pay my aggregator for their service.”

 

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