2022 mini-budget summary – how will the changes impact payroll professionals?
cipHR
OCTOBER 14, 2022
The government has announced the reversal of the 1.25% increase of National Insurance Contributions (NICs) and the dividend equivalent, which had been introduced in April 2022. This will be delivered in two parts: The government will reduce NI rates from 6 November 2022, in effect removing the temporary 1.25 NI changes.
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