08 Nov 2018 News
No Abolition of Class 2 NICS
The Government has announced that it will not proceed with the abolition of Class 2 National Insurance Contributions for the self-employed – at least not during the term of the current Parliament.
Class 2 NICs were due to be abolished with effect from April next year. However, there was concern about the impact this would have on low-earning self-employed individuals who would have to have paid the much higher voluntary Class 3 NICs if they wanted to maintain full entitlement to their State Pension.
For more information please contact Anne Marie Renz or a member of the tax team.
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