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The tax penalty on employment
Are preferential tax rates for the self-employed justified?
Lower headline tax rates on self-employment than on employment aren’t justified by differences in benefits or employment rights, and are poorly targeted at improving investment incentives.
The distributional impact of National Insurance contributions (2024–25)
Forecast revenue from National Insurance contributions in Great Britain by source, 2023–24
Combined marginal rates of income tax and National Insurance contributions, 2024–25
National Insurance contributions on employment versus self-employment, 2024–25
Self-employed National Insurance contribution rates, 2024–25
Marginal and average combined rates of employee and employer National Insurance contributions, 2024–25
Employee and employer National Insurance contribution rates, 2024–25
National Insurance contribution rates, 2024–25
National Insurance contributions explained
National Insurance contributions (NICs) are the UK’s second-biggest tax, expected to raise just under £170 billion in 2024–25 – around a sixth of all tax revenue.