Budget offered little for contractors, claims PCG

Date: 26th March 2010

This week's Budget announcement has been rubbished as a "pre Budget" by one industry body.

The Professional Contractors Group (PCG) said there was little for freelance workers such as sole traders to take away from the announcement.

However, John Brazier, PCG managing director, said the "real Budget", which will come after the general election, should recognise the flexibility that contractors provide the economy.

"In some ways the government has seemingly done nothing to harm us. However it is in the 'real' Budget after the general election where PCG will be expecting genuine progress for freelancers, contractors and micro-businesses," he said.

The organisation has invited visiting professor of taxation at King's College London Anne Redston to analyse the Budget.

According to the expert, the chancellor delivered a promising big picture but was light on the details.

Commenting on measures that could benefit contractors, she said holding capital gains tax to 18 per cent is "good news".