National insurance rise for self-employed
The national insurance rates for self-employed people will be increased next year as Chancellor Philip Hammond sought to redress unfairness to workers in employment.
The abolition of Class 2 NICs for self-employed people, announced by former Chancellor George Osborne in 2016 and due to take effect in 2018, will remain.
However, when the Class 2 NIC is abolished, the main rate of Class 4 NICs for the self-employed will increase by 1% to 10%, with a further 1% increase in April 2019.
The Chancellor said the change, which is exp... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...