Amendment to The Spring Budget 2017
16th March 2017
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One of the significant announcements Chancellor Philip Hammond made on Budget Day, 8 March 2017, was the proposed increases to the main rate of Class 4 National Insurance Contributions (NICs) paid by self-employed individuals. The rate was to increase from 9% to 10% from April 2018 with a further increase planned from 10% to 11% from April 2019.

The Chancellor has announced that the government will not now proceed with the proposed increase in Class 4 NICs rates.

Self-employed individuals currently pay Class 2 and Class 4 NICs.

Class 2 NICs are to be abolished from April 2018.

About the Author

Karen Crowley

Member since: 11th December 2014

I have worked for Gibbons Mannington & Phipps LLP since 2000 and became a Partner in January 2018.

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