Even before the Budget next month, there’s some good news in the form of a confirmed tax cut.
Chancellor of the Exchequer Sajid Javid has confirmed that the government will raise the threshold for National Insurance contributions (NICs) from the beginning of April.
At the same time, he assured retirees that state pension credits would not be affected.
According to new legislation presented in parliament on 30th January 2020, the threshold will be raised by 10% to £9,500. Therefore, if you earn less than this amount, you will pay no National Insurance contributions.