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

Rachel Vahey: Five (other) possible Budget announcements

Rachel Vahey: Five (other) possible Budget announcements

Budget speech set for 26 November

Rachel Vahey
clock 10 September 2025 • 3 min read
Integrating lifetime mortgage advice into IHT planning

Integrating lifetime mortgage advice into IHT planning

'Now is the time to get ahead of the curve'

Dave Harris
clock 08 September 2025 • 4 min read
Court of Appeal ruling brings 'blockbuster' Russian divorce case to UK

Court of Appeal ruling brings 'blockbuster' Russian divorce case to UK

Multi-billion pound divorce claim could be heard in UK courts

Jenna Brown
clock 04 September 2025 • 3 min read