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Money Box: National Insurance Cut and Council Tax Debt

06/04/2024

National Insurance Cut and Council Tax Debt

BBC Radio 4 - Money Box, National Insurance Cut and Council Tax Debt

National Insurance is being cut this weekend for the second time this year.

New figures from a debt charity show a sharp rise in the money owed on Council Tax as bills go up.

National Insurance - a tax millions of working age people pay on their wages - is being cut this weekend, for the second time this year.  The main rate of National Insurance has now fallen by a third - from 12% last year to just 8%.  The Treasury says combined with above-inflation increases to personal tax thresholds since 2010, this will save the average earner over £1,500 compared to what they would otherwise have paid.   What difference will it make to your pay?

The debt charity StepChange has told Money Box a third of people they helped last year were behind on their Council Tax payments with an average debt of more than £1,700.  What can you do if you're struggling to pay?

Plus, changes to Child Benefit mean it will become available to thousands more families from this weekend - how will that work?

Presenter: Paul Lewis
Reporters: Sarah Rogers and Eimear Devlin
Researchers: Sandra Hardial and Jo Krasner
Producer: Craig Henderson
Editor: Jess Quayle

(First broadcast 12pm Saturday 6th April 2024)

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