Find out how the potential of self-employed people is held back.
From 2024 self-employed taxpayers will have to collect and send digital tax information to HMRC four times a year on top of preparing their self-assessment submission.
A more restrictive approach to IR35 tax regulations has made it harder for freelancers to get work from larger companies.
IR35 changes mean that 7 out of 10 contractors have to use umbrella companies that charge fees and force contractors to pay their employers' national insurance contribution. Some of them skim contractors' pay packets and withhold holiday pay.
On top of the NI surcharge of 1.25% and the inflation stealth tax, people who have incorporated as small businesses now have to pay for an extra 1.25% dividend tax hike.