EVCOM welcomes government U-turn on NIC

Industry association EVCOM has welcomed the government’s climbdown on the proposed increase in Class 4 National Insurance Contributions (NIC).

The tax changes for freelancers would have not only increased the NI they pay, but in addition many who are set up as limited companies would also have paid more tax on their dividends, EVCOM pointed out and said the events, film and digital production sectors are heavily reliant on freelancers, some of whom have also been impacted by changes to the VAT Flat Rate Scheme.

“We know from talking to the many EVCOM freelance members that their rates have not kept in line with inflation and living costs. Any increase in taxes would hit an important sector of our industry that is already under pressure and seeing erosion in real incomes,” the association’s statement said, adding: “The impact of any changes to freelance employment rights and taxes requires further consultation to ensure such changes are fair and equitable, and we shall monitor the situation closely.”

Paul Colston

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Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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