The self-employed and the budget
Press reports suggest that the Chancellor intends to announce in the budget plans to overhaul the system for taxing the self-employed.
In recent years the rise in the number of self-employed – and in people providing their services through their personal service company – has been a feature of business life. HMRC has had this in its sight as it has resulted in a reduction in the amount it receives in tax and national insurance.
We have seen courts and tribunals ruling that some “self-employed” are “workers”; and there are already moves to “look through” self-employment and personal services companies in the public sector.
It may be that these changes and any further changes that follow after the budget will reduce the advantages of self-employed status and personal service companies. We will keep you informed.Back to Our Thinking →