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Royal assent for ‘tax lock’ NIC Act

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The National Insurance Contributions (Rate Ceilings) Act received royal assent on 17 December 2015. The Act 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) Act 2015. 

Issue: 1291
Categories: News