National insurance contributions and dividend tax rates will increase by 1.25 percentage points across the UK from April 2022, with the projected £12bn annual income to be ringfenced to pay for health and social care.
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Update History
- 08 Sep 2021 (12: 00 PM BST)
- Further to information received overnight from HMRC, an additional sentence has been added (paragraph two): 'The 1.25% increase will also apply to class 1A and class 1B NIC paid by employers'
- 08 Sep 2021 (12: 06 PM BST)
- Further to information received overnight from HMRC, additional wording has been added (paragraph four): The words 'or self-employment' were added to this sentence - 'From that date, the legislation will also extend the revenue raising measure to individuals over state pension age in employment or self-employment, who are currently exempt from paying NIC'
