The National Insurance Contributions (Rate Ceilings) Bill received its third reading in the House of Lords on 7 December, with no amendments made. 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 F(No. 2)A 2015. As both Houses have agreed on the text of the Bill it now waits for the final stage of royal assent. The date for royal assent has yet to be set.
The National Insurance Contributions (Rate Ceilings) Bill received its third reading in the House of Lords on 7 December, with no amendments made. 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 F(No. 2)A 2015. As both Houses have agreed on the text of the Bill it now waits for the final stage of royal assent. The date for royal assent has yet to be set.
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