Compliant flexible PAYE solutions for contractors & freelancers
Specialist limited company accountancy for contractors
Giving workers in the construction industry greater flexibility
Bringing you exclusive discounts, the best deals and offers
Company Rescue, Recovery and Closure Advice for Business Owners
Industry leading solutions for agencies
Why wait? Call or email us now to find out how we can help
Business groups have called on the Chancellor Rishi Sunak to delay a planned increase to National Insurance amid rising prices and a slowdown in recruitment activity.
Make UK, which represents 20,000 manufacturing firms in the UK, called the £12bn tax boost ‘illogical and ill-timed’. They argued that April’s 1.25 percentage point increase to the tax on employees and employers should wait until the economy is on a firmer footing.
The tax increase has been created by the Government to combat the NHS backlog. It will also fund social care initiatives, such as care home costs and disease prevention.
From April 2022, National Insurances contributions will rise by 1.25% for employees and the self-employed who earn over the minimum threshold. Employers NI contributions will also be increased by 1.25%.
The increase to NI contributions will only last 1 year, with rates returning to the current level in April 2023. However, the 1.25% tax is here to stay and will be known as the ‘Health and Social Care Levy’ from 2023.
