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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