National Insurance tax cut: How will November’s plans impact your money? | Personal Finance | Finance
The tax cuts are said to be worth £4,200 on average for small businesses and £21,700 for medium-sized firms who pay National Insurance. In total, according to the Government website, up to 905,000 micro, small and medium businesses will benefit most from 2023-24.
How will the National Insurance increase reversal impact me?
The National Insurance increase reversal will have more of an impact on higher earners, as opposed to those with lower annual incomes.
Employees under pension age earning less than £12,570 a year won’t see a difference to their payslips, because people in this pay threshold do not pay NI.
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