So the self employed who have been declaring less than they take with clever accounting and an annual rebate! are now going to be wondering how they can survive on 1k a month with a big house and a Chelsea tractor.
I know for a fact this has been happening for years.
One old acquaintancea few years back regularly showed me at least a grand a week in green backs and bragged how he declared 15k a year earnings with a 3k rebate each and every year.
I have a feeling that the self employed one man bands will be grassing up a few of their accountants. (He told me to do that) in a whining winghing voice.
Karma is a bitch and why should I pay 12k plus a year on tax and NI when these tnucs pay nish.
Good f***ing job and yes I am envious of their past but the future for them is fecked.

Very similar went through my mind as I heard it live on my phone. Not all will have avoided tax by taking the p1ss or not declaring but I bet many have dodged above the payments they’re possibly going to miss out on here, and won’t have put any aside and there’s not much of a market to sell your possessions or any human contact either.

COYP

Sorry to hear that and if your records were straight I hope that the chancellors plans include you for an amount which will alleviate the financial pressures.
My point was pretty matter of fact and what I have been around.
Sadly the guys doing it right like you are tarred with a big brush.
Wrongly ,yes but tbh a lot were pulling the wool and now that may affect all.
My employer have at least 20% in the sports centre genre so that's gone south from today.
Unknown territory for all of us; unless you can make drugs,beds or ventilators.

And yes to that.
Changes afoot going forwards

You do realise they pay tax on dividends, right? The contractor market is nowhere near as tax lucrative as it used to be. Also, assuming you're referring to the minority that earn massive amounts and game the system. There are plenty of other self-employed people, sole traders etc. that will be in serious trouble as a result of this. They are the majority.

If you were simply referring to the top 5%, of which there's at least one example on this site who believes they should be rebated by the state for having private health insurance and privately educating their kids, then fair enough. Let them have it.

Did you know? 98.0000001% of people are morons.

And it's your plumber washing his merc with a 1500 quid tax bill I'm referring to in my starter post.
These sole traders have been having it good for so long whilst laughing at the paye.
I'm cool with yourself and the like as taking a dividend is allowed as tax is paid on that, a bit lower albeit but still an honest contribution, and you sensibly saved for the rainy day.
Many sole traders just binned the readies and declared the cheques and card payments.
They are the ones who are goner see the rooster coming home.