Scrap Payments on Account and increase self-employed personal allowance to £20k

Background

Self-employed create jobs & drive growth, and we think the Payments on Account would be better invested in businesses. If we are late to pay it we pay interest, which we think is unfair! We call on the Government to scrap it and to raise the Personal Allowance to £20k for self-employed.

Additional details

We believe doing so would cut poverty & stimulate economy. The UK's 4.4m self-employed drive growth & create jobs. Yet, in our view, Payments on Account force us to give Government interest-free loans, tying up capital needed for investment & hiring. Late payments incur interest: unfair! We think scrapping it would unlock funds for economic stimulus. The frozen £12,570 Personal Allowance can hit low-earners hard. We therefore call on the Government to raise it to £20k for self-employed, as we think this would reduce poverty, boost spending & reward entrepreneurship. Britain needs growth: invest into the job creators!

Where it’s popular

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