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Millions of workers and energy customers are facing changes in taxes and bills due to new rules announced by HMRC and DWP. Some individuals could receive compensation ranging from £200 to £900, with deadlines for action looming. The National Insurance cut will benefit workers, with potential savings of up to £900. Energy customers with smart meters may see reductions in their bills thanks to lesser-known rules.
'We're looking at three or four million extra workers, over a tenth of the workforce, paying tax at a higher rate'. @LiamHalligan breaks down how todays national insurance cut will be offset for many by frozen tax thresholds. 📺 Freeview 236, Sky 512, Virgin 604 https://t.co/zC3gm4vjX4
Smart meter energy customers will have bills slashed due to lesser-known rule https://t.co/S03bFmlGJI
From tomorrow, as we enter a new tax year, millions of workers will have their NI contributions cut from 10% to 8%. Combined with the tax cuts announced in the Autumn Statement, £900 will be put back in the pockets of the average worker (on £35,400).