The Bill to reverse April 2022’s rise in National Insurance and cancel the Health and Social Care Levy is expected to pass through the House of Commons on Tuesday afternoon (October 11). This reversal would take effect on Sunday, November 6, and could mean Brits could pocket an average tax cut of £330 a year.
News of the reversal was first confirmed in the government's mini-budget. However, for those earning less than £12,570 a year the reversal will make no difference at all as at this level of earnings no National insurance is payable.
Chancellor of the Exchequer, Kwasi Kwarteng, said: “Reversing the National Insurance rise is a promise delivered. It means an average saving of £330 a year for 28 million workers in the UK, and I’m delighted we will get a step closer to this today as the Bill passes through the Commons."
