Philip Hammond’s first Autumn Budget started with a sequence of humorous statements, including referring to Theresa May’s coughing pout at the Conservative Conference. However, he soon got down to business and delivered his hour-long Budget speech, announcing changes that will impact on contractors, freelancers and small businesses. Here is our summary.

From April 2017, there will be a significant change to the way in which Personal Service Companies (PSC's) in the public sector are taxed. Currently, there are over 250,000 PSC's in Britain, many operating in sectors such as healthcare and IT. Because PSC's are often structured with just a sole director and shareholder, working often just for one other organisation, the government are fighting to classify them as employees, where PAYE and NIC applies.