Health and Social Care Reforms – How will National Insurance and dividend tax be affected?
Released On 9th Sep 2021
To help pay for the growing costs of health and social care, the Prime Minister Boris Johnson has announced a 1.25 percentage point increase to National Insurance and dividend tax from April next year.
Despite manifesto pledges not to raise National Insurance, the Government has said the unforeseen impact of the pandemic meant it faced a tough challenge and had to act.
The new health and social care reforms, funded through an increase in National Insurance and dividend tax, will affect businesses and many different aspects of individual’s lives – from how they are paid, to dividends and the impact on their estate.
Although we await further details of this important change, if you have any concerns, please feel free to contact us.