How will it affect the self-employed and small businesses?

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This article highlights the elements of the Budget 2018 drafted by Chancellor Philip Hammond that pertains to the self-employed and freelancers. IR35 tax reform is the major game changer in this Budget that has opened room for many debates.

Let us see the important highlights of the Budget 2018 in this article.
  1. IR 35 tax reform
  2. Personal tax allowance
  3. Small business tax rates
Apprenticeship fees -
  • National Living Wage
  • Relief for entrepreneurs
  • Annual Investment Allowance (AIA)
Incentives for greater capital investment were also announced.
  • Fuel duty freeze
  • VAT imposition on small businesses
  • Digital Services Tax
  • Research and Development tax

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