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NIC Bill ‘tax lock’

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The National Insurance Contributions (Rate Ceilings) Bill passed its second reading on 15 September 2015 and went to a Public Bill Committee on 27 October. The report stage and third reading are provisionally scheduled for 4 November 2015. The Bill implements 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.

Issue: 1283
Categories: News