National Insurance Contributions: Self-employed
(asked on 15th April 2016) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether he has made an assessment as to how much the abolition of class 2 national insurance contributions will save on average for each self-employed person; and if he will make a statement.
This question was answered on 20th April 2016
The abolition of Class 2 NICs means that 3.4 million self-employed individuals will gain by an average of £134 in 2018-19 when Class 2 National Insurance contributions are abolished. This will allow millions of self-employed individuals to keep more of their money and invest it back into growing their business, as well as ending an outdated and complex feature of the NICs system.