UK govt raises NI contributions threshold

by | Mar 23, 2022

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The UK government on Wednesday lifted the national insurance (NI) threshold in an attempt to deflect criticisms from the upcoming manifesto-busting rise in NI contributions next month.

Finance Minister Rishi Sunak told parliament he was increasing the threshold by £3,000 this year, up from a planned rise of £300 and equalising the NI contributions threshold with the personal tax allowance of £12,570.

Sunak came under fire for insisting that the NI contributions increase, effectively a tax rise, would go ahead to fund plans for social care.

 

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