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Budget press release notes
I am looking at the NIC rates for 2011-12 as set out in the press notice 2. It shows the change to the employee's primary rate to 12% but the employer's secondary rate is showing at 13.8%. I thought that this increase would not happen to the class1 NIC secondary rate. Did I hear it wrong?
THIS is the Budget
EXECUTIVE SUMMARY OF CHANGES THIS TAX YEAR
VAT up to 20% 4/1/11
IPT up 1%/2½% 4/1/11
CGT 28% rate for higher rate tax-payers 22/6/10
Bank Levy 0.04% of balance sheet if you are over £20bn 1/1/11
Cider Duty increase cancelled “from 30.6.10”
Landline Duty abolished before it started
And there were some current year spending reductions announced a few days ago