National Insurance: Increase in rate of Class 4 contributions

The previously announced abolition of Class 2 contributions with effect from the 2018-19 tax year will now go hand in hand with an increase in the Class 4 rate from 9% to 10%. Self-employed persons with profits over £16,250 will pay more national insurance as a result. The Class for rate will be increased again to 11% in 2019-20.

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