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.
This update is for general purposes and guidance only and does not constitute legal or professional advice. You should seek legal advice before relying on its content. For advice, get in touch with your usual Greenwoods GRM contact or scroll down to complete our enquiry form.