MoneySavingExpert News

National Insurance

Spring Budget 2024: Workers to pay less national insurance from April – but some will still be worse off due to frozen personal tax thresholds

Around 29 million workers are set to benefit from the national insurance contributions change, which will see contributions cut from 10% to 8% for employed workers and from 9% to 6% for self-employed workers.

6 March 2024

Martin Lewis: What the Spring Budget 2024 means for your pocket – national insurance cut, frozen tax rates, Child Benefit boost, no LISA change & more

The Chancellor Jeremy Hunt has today announced a range of new tax, benefits and savings measures in his Spring Budget. MoneySavingExpert.com founder Martin Lewis has shared his instant reaction and explained what the changes mean for you, and we've added more detail on them below.

6 March 2024

Autumn Statement: Workers to pay less in national insurance – but rate cuts don't offset the freezing of personal tax thresholds

Both employees and self-employed workers will pay less in national insurance from next year, Chancellor Jeremy Hunt has announced in today's Autumn Statement.

22 November 2023

Mini-budget 2022: Income tax to be cut for millions from April – what it means for you

Chancellor Kwasi Kwarteng has announced big tax cuts for individuals and businesses including a major shake-up to income tax.

23 September 2022

National insurance tax cuts to save workers £330/year from November as Government reverses previous increase – what you need to know

Chancellor Kwasi Kwarteng has announced that the 1.25 percentage point rise in national insurance contributions (NICs), which took effect earlier this year, will be reversed in November.

22 September 2022

Spring Statement 2022: National insurance tax cuts to save workers £330/year from July – plus everything else from today's announcement

Other key announcements, which we will round-up below, include the basic rate of tax being cut by 1 percentage point by 2024 and fuel duty rates being cut by 5p/litre tonight.

23 March 2022

Treasury changes Gov.uk national insurance info after Martin Lewis calls it 'misleading'

The Treasury has corrected information on its website regarding the upcoming increase in national insurance, after a tweet from MSE founder Martin Lewis calling it misleading went viral.

8 February 2022

Households to face a £1,200 hit from next April with 2022 set to be the 'year of the squeeze'

Households across the country are set to face an income hit of £1,200 a year due to rising energy prices, tax increases and wage stagnation, according to a report by the think tank Resolution Foundation.

28 December 2021

National insurance contributions to rise by 1.25 percentage points from April 2022 to fund social care costs

National insurance contributions will rise by 1.25 percentage points from April 2022, Prime Minister Boris Johnson has today announced. The move is in a bid to help fund health and social care costs.

7 September 2021

Budget 2020 round-up: NI threshold raised, fuel duty frozen and more

National insurance thresholds will be raised and duties on fuel and alcohol frozen as part of the 2020 Budget unveiled by Chancellor Rishi Sunak

11 March 2020