Class 4 nic for the self-employed reduced from 9% to 8% from April 2024
A further tax cut was announced by Jeremy Hunt for self-employed workers, who will see the Class 4 NIC charge on their annual profits between £12,570 and £50,270 cut from 9% to 8% from April 2024. This equates to a further tax cut of up to £377 per annum (based on profits of £50,270+) in addition to the £179 Class 2 NIC saving mentioned above.
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