Steep surge in income tax and national insurance as higher taxes bite in cost of living
26th May 2022
The combined amount of Income Tax and National Insurance paid in the last twelve months has soared by 13 per cent to more than £387bn, new figures from HMRC show.
Discussing the HMRC data with City A.M., Katharine Arthur, Partner and Head of Private Client, said: “The latest set of tax receipts from HMRC highlight just how much National Insurance contributions have spiked by since the rate increase at the start of April 2022.”
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