Big changes to National Insurance next month as taxpayers set to save £330 a year

1 min read

Steven Cameron, a pensions director at Aegon, discussed how taxpayers will benefit from the Government’s latest decision.

Mr Cameron explained: “Chancellor Kwasi Kwarteng has announced a reversal of the 1.25 basis point increase in employee and employer National Insurance Contributions introduced last April by his predecessor Rishi Sunak.

“The money raised by the increase was to provide additional funding to support the NHS recovery from the pandemic and over time to pay for the government’s share of its new social care deal.”

However, the pension expert did not think this latest move will do enough to support those earning under the personal allowance threshold.

Leave a Reply

Your email address will not be published.

Latest from Blog