The UK government has published a bill to bring forward the changes to National Insurance contributions first announced at Autumn Statement 2023. The National Insurance Contributions (Reduction in Rates) Bill will make the following changes:
The bill also sets out various transitional provisions, including for the calculation of annual maximum contributions for 2023/24, given that the main Class 1 rate changes part way through the tax year.
The government has also issued Budget Resolutions which will be considered in the House of Commons until Monday 27 November 2023, with a Finance Bill expected to be published shortly after.
The UK government has published a bill to bring forward the changes to National Insurance contributions first announced at Autumn Statement 2023. The National Insurance Contributions (Reduction in Rates) Bill will make the following changes:
The bill also sets out various transitional provisions, including for the calculation of annual maximum contributions for 2023/24, given that the main Class 1 rate changes part way through the tax year.
The government has also issued Budget Resolutions which will be considered in the House of Commons until Monday 27 November 2023, with a Finance Bill expected to be published shortly after.