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Money Box: What do National Insurance changes mean for you?

02/07/2022

What do National Insurance changes mean for you?

BBC Radio 4 - Money Box, What do National Insurance changes mean for you?

How will changes to National Insurance affect you?

From 6 July, the amount people can earn before they start paying National Insurance will be raised.

From 6th July, everyone in work will see a cut in the taxes they pay.  It's because the level of pay at which National Insurance begins will be raised. Two million people on part-time low pay will not pay any national insurance at all. Ministers say it's a tax cut of 330 pounds per year for a typical employee, but that is not the whole picture. The rate of national insurance rose three months ago. So this cut is in a tax that is already costing millions of workers more. We'll hear from families in Stockport on how their income is being squeezed and speak to the Minister responsible for tax policy Lucy Frazer, the Financial Secretary to the Treasury.

If you are a victim of crime it is most likely that your money is stolen through fraud. New figures out this week showed the amount stolen and the number of victims rose substantially last year - as they have every year that the figures have been collected. We'll get reaction from Her Majesty's Inspector of Constabulary, Matt Parr.

A new act banning ground rents for most new residential leases in England and Wales came into force this week. It's part of the government’s Leasehold Reform plans. We'll find out more about the new rules from a legal specialist in leasehold.
 
Plus, why has a much anticipated code of practice designed to regulate the private parking sector been withdrawn?

Presenter: Paul Lewis
Reporter: Dan Whitworth
Researcher: Sandra Hardial
Editor: Jess Quayle

(First broadcast at 12pm, Saturday 2nd July, 2022)

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