Millions of freelancers, contractors and business owners will be glued to their screens today to learn what the Chancellor’s budget has in store for them. A gradual hike in corporation tax seems to be one of the sure bets, with national insurance contributions possibly left unchanged to keep in line with the Conservative Party’s manifesto.
The lack of support for three million of the country’s five million self-employed has set off some warning bells as the Chancellor looks for ways to justify tax equalisation between the employed and self-employed.
It is anticipated that some self-employed will get some support. However, limited company directors could still remain excluded.
However, there is some good news, that has already leaked.
Tens of thousands of small businesses will be offered free MBA-style management, mentoring and digital training courses to help them boost productivity growth.
Under what has been coined the “Help to Grow” scheme, the government will allocate £520m into free online courses from top business schools, according to a BBC report.
Other perks of the scheme include up to 50% discounts on new productivity-enhancing software.
To learn more, tune into LBS at 7:50am on Wednesday morning (see details below).
The live Budget Press Conference will take place at 5pm on Wednesday, 3rd of March. To tune in live for pre-press conference details you can go to the Treasury’s Twitter account.