NI rise will hit hard
13 September 2012
How might firms minimise the damage the increase in NI contributions will do
From April 2003, national insurance contributions (NICs) will increase by 1% for anyone earning more than £4,615 a year.
Employees and the self-employed will have to pay 11% of all earnings between £4.615 and £30,940 a year. And employers’ contributions will rise from 11.8% to 12.8%.
In addition, anyone earning more than £30,940 will have to pay a...