Budget U-Turn: Update re self-employed NI

As has been extensively covered in the mainstream media, the Government last week moved to abandon its proposed increase in class 4 national insurance contributions for self-employed workers, meaning the increases scheduled for April 2018 and 2019 will now not go ahead.

This will apparently leave a c.£2 billion gap in the Government’s spending plans and they have announced that measures to cover this will be outlined in the Autumn 2017 budget.

We also await with interest the publication of the Taylor report into self-employment, which is due to be published in the summer.

Whilst the news will undoubtedly be welcomed by self-employed businesses and workers across the country, whether the backlash the government faced following the budget will mean this is an area that is left well alone for the foreseeable future or whether it is simply attacked from another angle is anyone’s guess, but the publication of the above report suggests there will be some change in the pipeline.

Posted by John Hoskin