From April 6, National Insurance Contributions (NICs) will rise from £8,632 to £9,500. This is the level at which taxpayers start to pay national insurance - it means the average full-time worker will see their tax cut by £104 a year and by £78 for the average self-employed worker. All the other thresholds for 2020-21 will rise with inflation, except for the upper NICs thresholds which will remain frozen at £50,000, as announced at in the 2018 Budget speech. The typical basic rate taxpayer now pays over £1,200 less income tax compared to 2010-11. In addition to increasing the NICs threshold the Government will also end the freeze to working age benefits, which has been in place since 2016.

Source: Daily Mirror January 31, 2020 07:51 UTC