28th September 2021National Insurance Tax Rise

Commenting on the recent hike to National Insurance announced this month by the Prime Minister, Tim Walford-Fitzgerald says

“The imposition of a social care levy serves to increase the different levels of taxes payable by people with the same income but from different sources. By targeting workers the costs of care are borne by a smaller number of taxpayers than an increase in income tax would achieve.”

“The splitting of the tax burden into different taxes, contributions and levies obfuscates the overall sums that employers and employees are being asked to. Whilst the main rate of income tax is the most politically sensitive, it also provides the broadest base from which to fund a Government’s spending.”

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