Cookies on the Attwoods website

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Attwoods website.

Open

Latest news

Explore insightful perspectives and expert advice on finance

Home |Latest news |National Insurance contributions cut from 6 January

Latest news

Browse by category
Business News

National Insurance contributions cut from 6 January

January 08 2024

The government cut the main rate of Class 1 employee National Insurance contributions (NICs) from 12% to 10% on 6 January 2024.

The government says that this will reduce NICs by more than 15%. This provides a tax cut for 27 million working people, with the average worker on £35,400 receiving a cut in 2024/25 of over £450.

The cut was first announced by Chancellor Jeremy Hunt in the 2023 Autumn Statement.

The Chancellor also announced that, from 6 April 2024, the government will abolish Class 2 self-employed NICs.

Speaking on 6 January, Prime Minister Rishi Sunak said: 'We have made tough decisions on the economy, supporting people through global shocks such as the pandemic and Putin's illegal invasion of Ukraine. It is because of the tough decisions this government has taken that . . . we are able to cut taxes for 27 million people across the UK.

'[The] tax cuts will directly reward hard working people, putting £450 back in the pocket of the average worker and helping them make ends meet.' 

Here to help

Please complete the form below and our expert team will be in touch.

  • Contact details

    • *
    • *

  • What services are you interested in?

    • *

  • Message

    • *

  • Which location would you like to contact?

  • Communication

    • *Indicates a required fields.†At least one form of contact is required.

      By submitting this form, you agree that Attwoods can process your information in order to respond to your enquiry. For more information visit our Privacy Policy.

Bromsgrove
Bromsgrove

Attwoods is proudly based in the historic market town of Bromsgrove, Worcestershire

  • 182 Worcester Road
  • Bromsgrove
  • Worcestershire
  • B61 7AZ
Call us01527 874170
Learn more about BromsgroveGet in touch
Evesham
Evesham

Attwoods is proudly based in the picturesque town of Evesham, Worcestershire; nestled in the heart of the Vale of Evesham

  • 90-92 High Street
  • Evesham
  • Worcestershire
  • WR11 4EU
Call us01386 424388
Learn more about EveshamGet in touch
Pershore
Pershore

Attwoods is proudly based in the Georgian market town of Pershore, Worcestershire.

  • Perrott House
  • 17 Bridge Street
  • Pershore
  • Worcestershire
  • WR10 1AJ
Call us01386 554870
Learn more about PershoreGet in touch
  • Xero Logo
  • Gold Partner Logo
  • Sage
  • QuickBooks Platinum

The practices of Attwoods are carried on by Attwoods Accountants Limited, Attwoods Business Services Limited, Attwoods (Bromsgrove) Limited. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants.