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Le Jeune: a very modest Budget

A first stab at realigning national insurance rates may mark an eventual overhaul of the income tax system but the Chancellor offered scant pickings for business in his first and last spring Budget, says Caroline Le Jeune, partner at Blick Rothenberg

Despite hinting at change to come, the Chancellor resisted making far reaching tax changes in the Budget. Fairness and stability were the themes so it was of little surprise that Philip Hammond moved to level the playing field between the self employed and employed.

He will be increasing the rate of Class 4 NICs paid by self-employed individuals from 9% to 10% from 6 April 2018 and to 11% from 6 April 2019. This will mean that self-employed individuals with profits of more than £16,250 will pay more NIC from 6 April 2018.

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