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Spring Statement 2022—CIOT comments on changes to income tax and NICs

Published on: 24 March 2022
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Specialist Tax Regulatory Materials

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The Chartered Institute of Taxation (CIOT) has responded to the Chancellor’s Spring Statement of 23 March 2022, welcoming the announcement to align income tax and national insurance contributions (NICs) thresholds. However, the CIOT have commented that the alignment and the separate announcement to reduce the basic rate of income tax suggest conflicting approaches to the two taxes. It was also stated that the income tax and NICs thresholds will not be equalised in 2022/23 and that the prospect of further income tax divergence between Scotland and the rest of the UK has increased.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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