The majority of industry professionals are calling for a significant change in the current National Insurance (NI) system, with 55% advocating for a reduction or complete overhaul, according to last week’s Professional Adviser Asks poll.
Nearly a quarter (24%) are opposing such measures, whilst 21% remain undecided. One respondent who said they want to see a reduction in NI said it should be essentially brought to zero, and then added into the income tax regime which should be aligned with all other taxes, "therefore removing the differences between taxes". Another respondent with a similar view said the NI system should be abolished altogether "as it overcomplicates the tax system and is only a tax on working people". One pundit said it should be scrapped as it no longer funds the NHS/state pension. However, on...
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