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The Government’s ‘triple tax lock’ prevents increases in many taxes, including employee and employer National Insurance Contributions. Employee NIC contributions are currently 12%.

However this means that self-employed National Insurance Contributions are fair game. It may be the case that the Government sees scope for a tax increase, by changing the rate of self-employed NIC contributions. Perhaps we might be looking at an increase from 9% to a figure similar to that being paid by employees of 12%.

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Tony Shackleford
Tony Shackleford

Chartered Accountant offering support to Limited companies and the self employed.

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