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Autumn Statement 23: Class 2 NI abolished for self-employed
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Chancellor Jeremy Hunt delivered his Autumn Statement in parliament today (22 November).
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.
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