Self-employed Contributions

HM Treasury written question – answered on 20th April 2016.

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Photo of David Morris David Morris Conservative, Morecambe and Lunesdale

To ask Mr Chancellor of the Exchequer, whether he has made an assessment as to how much the abolition of class 2 national insurance contributions will save on average for each self-employed person; and if he will make a statement.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

The abolition of Class 2 NICs means that 3.4 million self-employed individuals will gain by an average of £134 in 2018-19 when Class 2 National Insurance contributions are abolished. This will allow millions of self-employed individuals to keep more of their money and invest it back into growing their business, as well as ending an outdated and complex feature of the NICs system.

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