With the changes to the simple VAT scheme due to take effect in April, and the increased National Insurance Contributions announced in the 2017 Budget, I suspect I am not alone in thinking this chancellor doesn’t understand the pressures facing self-employed taxpayers.
I’m all for level playing fields, but this one feels as level as the Himalayas. Freelancers and other self-employed members are not guaranteed statutory sick pay, holiday pay or a regular income. And correct me if I’m wrong, but any payments we make setting up critical illness policies to cover ourselves are not tax deductible — so how can this be fair or level?
This is also on top of the VAT changes which mean we will be paying at 16% not 12.5% — or contemplating an extra mountain of paperwork to switch from the simple scheme.
How do other members feel about this? I will be interested to hear feedback at the Freelance Forum on April 25 — looking forward to seeing you there.
Well the NICs climb-down didn’t take long, did it?