Budget 2017: What’s the verdict?

By March 9, 2017 Public One Comment

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.

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