November 2022 changes to National Insurance and Health & Social Care Levy

What are the changes?

On 22 September 2022, Kwasi Kwarteng announced the following changes:

• National Insurance rates to reduce by 1.25% effective from 6 November 2022. This is a reversal of the NI increase that took effect from 6 April 2022.
• The Health and Social Care Levy, which was planned to take effect from 6 April 2023, has been cancelled.

The new Chancellor, Jeremy Hunt confirmed on 17 October that these changes remain in place.