Responding to today's Budget measures, IPSE's Vicks Rodwell said that freelancers with companies and other solo entrepreneurs lost out most from the measures announced by the Chancellor: 

Vicks Rodwell, Managing Director at IPSE said: “It’s freelancers and solo company owners that lose out most from this Budget. Not only is their personal allowance staying frozen for longer, but their dividend income is being raided too.

“We’re not talking about wealthy investors here – these are hardworking freelancers and small business owners. They have already absorbed a 90% reduction in the dividend allowance since 2017. For the rate of dividends to then be hiked – on the basis that it targets assets and not work – will infuriate freelancers and company directors.

“Company ownership comes with significant responsibilities and risk, and dividends make that risk manageable. Ultimately, this piles yet more pressure onto company owners and sends entirely the wrong message to entrepreneurs and the self-employed.”

IPSE is the UK’s only not-for-profit membership organisation dedicated to the self-employed. Our members include freelancers, contractors, sole traders and limited company directors.

We believe that flexibility in the labour market is crucial to Britain’s economic success. Our goal is to improve the landscape for the freelance way of working through our active and influential voice in Government and industry.