SJD Accountancy

Contractors not likely to be affected by UK tax rises

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Contractors and freelancers emerged almost entirely unscathed from the chancellor’s emergency Budget on 22nd June. Speaking to the Professional Contractor’s Group, Anne Redston, visiting professor of taxation at King’s College London, said contractors would not bear the brunt of tax rises designed to help replenish the UK’s finances, commenting, “This budget has left freelancers and contractors relatively unscathed on the tax front. The promise of a small business review has been firmed up, and the Office of Tax Simplification is long overdue. In this budget the government has set out the big picture – now they can start colouring in the details.”

John Brazier, MD of the PCG also commented, “George Osborne delivered an intelligent and decisive Budget which has tried to tackle the historical deficit this country faces. He stated he wanted to create certainty and stability and we believe that many of his measures will do this. The roadmap for corporation tax and the laying out of income tax changes over the course of the Parliament are welcome and will help PCG members in their businesses.”

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