Asked by: Neil Shastri-Hurst (Conservative - Solihull West and Shirley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the increase of tax paid by hospices as a result of changes to National Insurance contributions rates.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The latest forecasts for tax revenues were published alongside the Office for Budget Responsibility’s (OBR) October Economic and Fiscal Outlook. These forecasts are based on economic determinants, including wage growth and employment levels. The OBR do not forecast NICs receipts at a sector level. Detailed tax receipts forecasts can be found here: Economic and fiscal outlook – October 2024 - Office for Budget Responsibility.
Asked by: Neil Shastri-Hurst (Conservative - Solihull West and Shirley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the costs to HMRC of processing changes to rates of National Insurance contributions.
Answered by James Murray - Exchequer Secretary (HM Treasury)
Tax Information and Impact Notes (TIINs) covering recent changes to rates of National Insurance contributions (NICs) are available on GOV.UK and include information about estimated costs associated with these measures.
A TIIN covering employer NICs changes announced at Autumn Budget was published by HMRC on 13 November. These changes included a change in the rate of employers’ National Insurance. The TIIN confirmed that HMRC would need to make IT changes to implement this package of measures, and that the total cost of changes required was estimated to be circa £900,000.