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Spring Statement 2018 - Contracting Scout

Spring Statement 2018

Spring Statement to have little effect on contractors


Contractors around the UK will be relieved that the Chancellor’s Spring Statement has not led to them paying yet more of their earnings in tax.


Here at Contracting Scout, the team watched the Chancellor give his statement with the fear that there could be more bad news after previous moves to reduce contractors’ incomes.


The Spring Statement held no surprises, nor did it correct previous moves to reduce dividend allowances and change the IR35 status of many of UK’s contractors in the public sector.


While the Spring Statement was aimed at commenting on data from the Office for Budget Responsibility it was good to hear the key indicators of how healthy the UK economy is.


Contractors play a key role


News of the strong UK economy is important for contractors, as they rely on a strong economy and play a crucial role within it. Unfortunately, the Government does not always appear to recognise the efforts of contract workers. We are hoping for good news for contractors in the 2018 Autumn Budget.


Among the Chancellor’s announcements, the following were stated that could affect contractors:

  • A move to extend tax relief to help the self-employed pay for training
  • A consultation on measures to end late payments for small firms
  • Notification of the UK economy’s continued growth
  • Plans to improve digital connectivity across the UK
  • Business rates revaluation brought forward a year from 2022

Contracting Scout helps people begin their contracting careers


Here at Contracting Scout we help people begin their careers in contracting. People want to work as contractors because they want to work hard and exploit their skills and experience.


We help contractors manage their careers in a range of industries including IT and finance, and believe it’s important that their efforts are recognised and not penalised by any government looking to boost their tax income.


If you would like professional help to develop your contracting career, then contact the Contracting Scout team: 0203 603 1878.

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