View Author March 2011
BUDGET NOTES - EMPLOYMENT
The key points in today’s Budget relevant to employment are as follows
- NIC rates are to rise with effect from 6 April 2011. The employer’s NIC rate rises to 13.8% and the standard and higher employees’ rates rise to 12% and 2% respectively. This was a previously announced change.
- The income tax personal allowance will be increased by £1,000 on 6 April 2011 and by a further £630 in April 2012. However, the higher rate band threshold will be reduced from £37,400 to £35,000 on 6 April 2011.