The Treasury will hit MILLIONS of self-employed workers with a £150 tax whammy next year

0
210

Alamy Nearly 3.4million self-employed workers will have to pay £150 next year in tax (stock image)

In a written statement, the Treasury announced a one year delay to abolishing Class 2 National Insurance contributions.

It deprives 3.4million self-employed workers of a cut to their tax bills and hands a £200million windfall to the Chancellor for his Budget later this month.

It means all self-employed workers will continue paying £2.85 a week on earnings between £6,025 and £8,164, or face losing pension entitlements.

The Treasury said it decided to delay abolishing Class 2 NI to address concerns about the impact of the move on the 2 per cent of self-employed workers who earn between £6,025 and £8,164 a year and would face paying higher National Insurance bills after the move.

9e9c33963cd67d3b6c3794c4b01461d5 The Treasury will hit MILLIONS of self-employed workers with a £150 tax whammy next year

2 of 4

LEAVE A REPLY