Friday, November 03, 2017

Delay to NICs 2 tax cut is "slap in the face for self-employed workers"

The government has quietly announced it will be delaying a planned tax cut for self-employed workers by a year.

In a ministerial statement yesterday, it was announced that changes to National Insurance including the abolition of Class 2 NICs will be delayed until April 2019.

The planned tax cut would have led to savings for most self-employed workers of around £148 next year.

Liberal Democrat Leader Vince Cable commented:

"This is a slap in the face for self-employed workers.

"The Treasury is trying to bury bad news.

"Small business owners are already being hit with a double whammy of rising prices and higher borrowing costs.

"Now they’re being told that a planned tax cut will be delayed by another year.

"Once again the government is letting down the strivers who form the backbone of our economy."

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