The Chancellor, Richard Hammond, has announced a U-turn on the proposed rise in national Insurance rates for the self-employed.In the Spring Budget it was announced that as of 6th April 2018, Class 4 NICs would be increasing to 10% from the current 9% in place, with a further increase to 11% the following year.In a letter to Tory MPs, the Chancellor revealed that he has “decided not to proceed” with the planned rise in NICs for self-employed workers, despite only announcing the measure … [Read more...]