Rise in national insurance contributions reversed
Implementation date: 6 November 2022
In its Growth Plan 2022 the Government announced that it is reversing the 1.25% increase to employee and employer national insurance contributions (NICs) that came into force on 6 April 2022. NIC rates will reduce by 1.25% for pay days on or after 6 November 2022.
The planned health and social care levy, which was due to replace the increase in NICs in April 2023, is also scrapped.