As part of the Autumn Statement, the Chancellor of the Exchequer Jeremy Hunt has announced a shock mid year change to National Insurance contribution for employees. The 12% rate is returned to 10%.
Payroll software and employers will need to ready themselves to implement the changes in readiness for the new calendar year to be applied from 6th January 2024.
Yet again we have a mid year change to National Insurance contributions (NICs).
PAYadvice.UK 22/11/2023
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