20 October 2007

New Stealth Tax

According to a report in The Daily Telegraph the Chancellor of the Exchequer made a crucial omission in his recent pre-budget report. Sly Alistair Darling forgot to mention that he is raising the threshold limit for 11% national insurance contributions (NIC). From April 2008 the current limit of £34,840 will rise to £40,040. The increase means a rise in contributions of £10 per week.

To read the Telegraph article click on the post title.

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