Autumn Statement 23: Class 2 NI abolished for self-employed

Jeremy Hunt lays out plans in Autumn Statement as chancellor

Sahar Nazir
clock • 1 min read

Chancellor Jeremy Hunt has revealed in his 2023 Autumn Statement today (22 November) that the government is "abolishing the Class 2 National Insurance for self-employed people".

Hunt said: "After careful consideration, we are abolishing Class 2 National Insurance, saving the average self-employed person £192 a year." This measure "simplifies" and cuts tax for nearly two million self-employed people in the UK. Meanwhile, veterans will receive "greater National Insurance relief". "I will extend national insurance relief for employers of eligible veterans for a further year and provide £10 million to support the Veterans' Places, Pathways and People programme," Hunt told the House of Commons. Read more: Autumn Statement 23: A close look at what advisers mu...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

'A lot of fear out there': SJP's Claire Trott on IHT on pensions

'A lot of fear out there': SJP's Claire Trott on IHT on pensions

‘Any change drives advice’, head of advice says

Sophia Panayi
clock 29 June 2026 • 3 min read
Paying IHT on pensions: The potentially 'gruelling' process for personal representatives

Paying IHT on pensions: The potentially 'gruelling' process for personal representatives

'Pension entitlements cropping up much later will cause a big headache for PRs'

Rachel Pinn
clock 25 June 2026 • 12 min read
Turning tax year-end regret into a new tax year opportunity

Turning tax year-end regret into a new tax year opportunity

The most common regret is leaving things too late

Sophie Hall
clock 24 June 2026 • 3 min read