National Insurance Cut and Council Tax Debt
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 Β£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 Β£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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- Sat 6 Apr 2024 12:04Βι¶ΉΤΌΕΔ Radio 4
- Sun 7 Apr 2024 21:00Βι¶ΉΤΌΕΔ Radio 4
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Money Box
The latest news from the world of personal finance