MoneySavingExpert News

National Insurance

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 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

Warning – 200,000 risk losing £1,000s as 'wrong' parent claims child benefit

Around 200,000 families risk one parent missing out on national insurance credits - and potentially losing £1,000s from their future state pension - because the higher earner in the couple claims child benefit, new data shows. Here's how to check if your family is affected, and transfer national insurance credits across if needed

23 November 2019

Tax cut plans for self-employed abandoned

The Government has abandoned plans to scrap 'class 2' national insurance contributions – meaning around three million self-employed workers will lose out on a tax cut of over £150 per year.

7 September 2018

Scrapping of class 2 national insurance payments delayed until 2019

The Treasury has postponed the scrapping of 'class 2' national insurance contributions until April 2019

3 November 2017