Main rate nic cut from 12% to 10% for employees from January 2024
Chancellor Jeremy Hunt announced earlier this afternoon that the main rate of National Insurance that applies to salaries between £12,570 and £50,270 per annum will be cut from 12% to 10% from 6 January 2024. This will give employees a boost in net pay of up to £754 per annum. While welcome, for company owners this further erodes the tax saving from taking dividends in place of salary…
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