Government packages

[PerfectStorm]

Nothing for people with trading profits above 50k

[Lockhouse]

Anyone else catch the inference that the self-employed will pay more tax in the future? Was all over in a second but he definitely said it.

[d000hg]

Nothing for people with trading profits above 50k

On average, presumably?

Banking contractors are not covered but lots of IT freelancers will be inside that level.

What's not clear is whether they consider a PSC to be self employment or not. Lots of people who are genuinely self employed, tradesmen etc, choose to work through a LTD for various reasons.

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[mjcp]

Nothing for people with trading profits above 50k

Did I mis-hear... people not covered are on £200K a year?


m

[d000hg]

Anyone else catch the inference that the self-employed will pay more tax in the future? Was all over in a second but he definitely said it.

We'll they already deferred the IR35 thing. Maybe we're heading for simpler "tax on what you earn" major reform

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[oilboil]

Nothing for people with trading profits above 50k

Are you a limited company?

If so this doesn't apply to you anyway as you aren;t "self-employed" in the defintion here.

You are a PAYE employee with dividend income - so you come under the other scheme - but of course as a director you can't furlough yourself

[d000hg]

Are you a limited company?

If so this doesn't apply to you anyway as you aren;t "self-employed" in the defintion here.

You are a PAYE employee with dividend income - so you come under the other scheme - but of course as a director you can't furlough yourself

Are you certain this has been clarified? The terminology is used in various ways

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[bingobob777]

Jeez...screwed all round

Those earning above £50k are on average earning £200k......

Expect to pay more tax in the future........

Higher rate tax payers screwed now and even more in the future

[Pring]

Very strong hint of tax/NI reform coming in the future.

[TheCyclingProgrammer]

Clearly sowing seeds to use this as an excuse to screw the self-employed with tax-rises in the coming years...not just "PSCs" but sole traders too from the sounds of it.

What exactly is the "big inconsistency" between a sole trader and somebody on PAYE? Lack of employer's NIC? The ability to offset genuine expenses against tax?