NICs Bill progresses to Lords stages

On 17 December 2024 the National Insurance Contributions (Secondary Class 1 Contributions) Bill was debated by a Committee of the whole House in the House of Commons. No amendments were made to the Bill (which remains as introduced) and it received its Third Reading.

The Bill has now moved to the Lords and received Second Reading on Monday 6 January 2025. Lords Committee Stages had yet to be scheduled.

The Bill makes provision for increasing the rate of secondary Class 1 NICs from 13.8% to 15% with effect from 6 April 2025 lowering the secondary threshold for secondary Class 1 NICs and the prescribed equivalents of the secondary thresholds with effect for the tax year 2025–26 and increases the amount of the employment allowance to £10 500 and removes the £100 000 threshold both with effect from 6 April 2025.