Autumn Budget creates fresh challenges for freelancers
Rachel Reeves’ Autumn Budget is set to tighten finances for freelancers across the tech and media sectors, according to audit and advisory firm Blick Rothenberg.
Partner Mandy Girder said the new measures, which affect investment income, savings returns, property income, and dividends, will hit self-employed creatives, contractors, and founders the hardest.
These groups often rely on varied income streams to combat the downsides of unpredictable workloads.
Girder expressed concern, stating, “For an industry already dealing with cash flow swings, these tax changes could compress margins even further”.
She expects freelancers to respond by pushing for higher day rates, as well as quicker payment terms and clearer contract structures to protect their take-home pay.
However, the Budget provides some positive aspects for tech and media employers.
Enhanced Enterprise Management Incentive (EMI) schemes will give scale-ups and agencies a stronger hand when competing for senior talent.
Girder said the updated EMI options provide a meaningful way to match corporate salary packages, boost retention and reward long-term contribution, especially in high-demand areas such as engineering and AI-related roles.
Reforms to the apprenticeship levy could also offer up new opportunities.
The changes enable employers to hire junior staff at a lower cost, access fully funded training, and redirect a greater portion of the levy toward upskilling existing teams.
“For sectors facing persistent skills shortages — from VFX and post-production to software engineering and cybersecurity — this is a welcome move”, Girder added.
“It encourages long-term talent development and supports wider growth ambitions.”
She concluded by saying that success in the post-Budget landscape will depend on how organisations adapt.
Many will now have to focus on balancing immediate financial pressures with the opportunities to invest and innovate sustainably.