To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of aligning National Insurance Contributions (NICs) earnings periods with those of income tax.
This would be a significant change, as National Insurance contributions (NICs) and Income Tax work quite differently at present.NICs are charged on earnings on a per-employment, per-pay period basis, whereas Income Tax is an annual tax, and takes into acc...
Income Tax and National Insurance Contributions