Health and Social Care Levy pushing families to the brink

health and social care levy pushing families to the brink

Sumary of Health and Social Care Levy pushing families to the brink:

  • Someone earning £20,000 will see their yearly National Insurance bill rise from £2,736 to £2,867. That’s a huge increase for someone on a tight budget!
  • And by increasing National Insurance rather than Income Tax, the levy catches more of the poorest workers.
  • That’s because National Insurance kicks in at £9,500 earnings per year, whereas Income Tax doesn’t start until you earn £12,570 per year.
  • Why the levy could affect jobs Not only will workers face a bigger tax bill, but employers will also have increased costs with an extra 1.25% National Insurance to pay on salaries.
  • For people trying to get their finances back on track, this latest tax rise comes as a body blow.

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