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NIC Bill ‘tax lock’

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MPs debated the second reading of the National Insurance Contributions (Rate Ceilings) Bill in the House of Commons on Tuesday. The Bill implemented NICs aspects of the ‘tax lock’ under which the main rates of income tax, VAT and NICs will be held at their current levels for the full five-year duration of this parliament. Income tax and VAT aspects are contained in the Finance (No. 2) Bill 2015.

The Bill passed its second reading without a division and will now be considered by a Public Bill Committee. 

Issue: 1277
Categories: News , Private client taxes