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Published on 2 February 2017

Draft Finance Bill 2017: Abolition of Class 2 National Insurance contributions

While the LITRG broadly welcomes simplification of the National Insurance process for the self-employed, we remain deeply concerned that those on the lowest incomes may find that funding voluntary Class 3 NIC is beyond their reach, causing them to require means-tested state support in the future instead of support to which they have contributed. We recommend that a lower rate of Class 3 contribution be introduced so that self-employed earners with profits below the small profits limit can continue to build up a contributions record at low cost.

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The LITRG submission can be found here: 

Gillian Wrigley

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