Chancellor Jeremy Hunt has revealed in his 2023 Autumn Statement today (22 November) that the government is "abolishing the Class 2 National Insurance for self-employed people".
Hunt said: "After careful consideration, we are abolishing Class 2 National Insurance, saving the average self-employed person £192 a year." This measure "simplifies" and cuts tax for nearly two million self-employed people in the UK. Meanwhile, veterans will receive "greater National Insurance relief". "I will extend national insurance relief for employers of eligible veterans for a further year and provide £10 million to support the Veterans' Places, Pathways and People programme," Hunt told the House of Commons. Read more: Autumn Statement 23: A close look at what advisers mu...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes