Budget Overview

The Chancellor’s budget yesterday was interesting in that it contradicted many expectations of amendments to self-employed tax and/or NICs despite numerous rumours.  There was a lot of significant content, and on Monday 8 March we will be publishing a podcast with special guest Angela Ferguson from Saffery Champness to discuss the key points, including:

  • Corporation tax changes
  • Treatment of losses carry back 3 years
  • Changes to furlough and the coronavirus job retention scheme
  • Off-payroll changes coming in April
  • SEISS extended criteria
  • Restart grants of up to £18k
  • Investment led recovery – reducing tax bill by 130% of investment made

Unfortunately the budget also continued to ignore the plight of the 3m various forgotten groups of self-employed limited company directors who have received zero COVID-19 financial support from the government.  It had been hoped that there would be specific support measures announced to give these important businesses a much-needed lifeline, particularly as several viable proposals had been developed and submitted for consideration.  Since the budget, social media has been full of heart-breaking stories of people now deciding to liquidate their businesses and instead seek a job, for many people they will be re-entering the jobs market for the first time in years.  We sympathise with everyone in this position, and on Monday 15 March we will be bringing a podcast episode packed full of advice to help those new to job seeking.

Both podcasts will be published here and are also available on apple podcasts, google podcasts, spotify etc – all the main podcast publishers.

About the author

Share this post

Sign up to our Newsletter

Follow IWORK on social

Subscribe to our Podcast

Latest Articles


Our Opinion On Latest Umbrella Exposé

There has been another exposé of alleged poor practices taking place at an umbrella which has been accredited by an industry body.  Our founder, Julia

Don't forget to sign up to our newsletter

Subscribe to Podcast Series

Subscribe to our Podcasts through Apple Podcasts by following the links below:

All About Self Employment

Empowering Agency Workers

Sign up to our weekly updates by giving us your details below

Submit Review