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Treasury assesses tax contributions

Treasury Minister Eddie Teare

The Treasury is looking at ways to improve the collection of national insurance contributions and bring it inline with that of income tax.

Today, the Income Tax Division published a consultation document on the payment of class two national insurance contributions.

It outlines a number of reasons for the consultations. 

These include explaining the current contributions system, proposing to move this to one payment a year and also raising the level at which people pay this contribution to match a lower-profit limit.

The Treasury says it’s seeking views and comments on these options and any other related issues.

Anyone wishing do so has until March 2, all relevant information can be found on the Government website.

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