Class 4 National Insurance Contributions

Part of the debate – in the House of Commons at 2:08 pm on 15 March 2017.

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Photo of Philip Hammond Philip Hammond The Chancellor of the Exchequer 2:08, 15 March 2017

Yes. It will not be over the next two years, but in one go, with a tax cut of about £130 a year in April 2018. That is because class 2 is a regressive tax—it is a flat-rate reduction for everybody who is self-employed, regardless of the level of their income.