- Thu Mar 09, 2017 5:29 pm
#1083684
As far as NIC for the self-employed are concerned, and in fact many aspects of the UK taxation system as well, it is about time that the tax book was re-written to equalise the different taxation classes. It's long overdue, in my opinion.
It would seem, from what I have heard, that 60% of the registered self-employed in the UK will actually be slightly better off when the new rules are introduced, whilst those earning over about £51,000 will be about £600 a year worse off. However, other things do need to be taken into consideration before everybody starts weeping crocodile tears over the poor S/E earning more than £51,000. It is more than likely that he/she will have been able to take advantage of tax allowances that his/her employed counterpart is unable to.
It would seem, from what I have heard, that 60% of the registered self-employed in the UK will actually be slightly better off when the new rules are introduced, whilst those earning over about £51,000 will be about £600 a year worse off. However, other things do need to be taken into consideration before everybody starts weeping crocodile tears over the poor S/E earning more than £51,000. It is more than likely that he/she will have been able to take advantage of tax allowances that his/her employed counterpart is unable to.