Grasping the nettle


Grasping the nettle

The Government - no matter which party runs it - has been, and still is, perplexed as to how to reform Income Tax and National Insurance Contributions. The ideal situation is an integration of both - but how?

That's where the call for evidence comes in as the Government seeks the opinions of taxpayers and accountants alike.

Presently the two taxes differ in the definitions of income; Income Tax is annually assessed whilst NICs are weekly or monthly; the different sub-types of NICs that include Class 2 and 4 for the self employed; and the link between NICs, pensions and other contributory benefits.

This was first published in July 2011

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