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Budget 2007 NIC

 
David Heaton tax partner in Baker Tilly's Employer Consulting Group looks at the two NIC aspects of the Budget and notes that there are no further changes as a result of the Finance BIll
 
Gordon never has time to say everything and he tends to keep his announcements on National Insurance 'taxes' fairly brief. This year he didn't even make the slip of referring to them as taxes as he has been known to do in the past. However his brief reference to our national social insurance system in this year's speech was worth over £1 billion in extra contributions in 2008/09 and more still (34% more) in 2009/10.
 
The dramatic dénouement of his Budget performance was the big number highlight: a cut in the basic rate of income...
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