Here’s how Rachel Reeves’ second budget will affect personal and payroll matters (assuming that it all comes into being): Headline announcements The rates of income tax and National Insurance Contributions (NIC) for employees will remain the same as promised. The income tax band thresholds will now be frozen until 2031 which will mean that over…

Here’s how Rachel Reeves’ first budget will affect personal and payroll matters (assuming that it all comes into being): Headline announcements Taxation & wages for salaried people. The rates of income tax and National Insurance Contributions (NIC) for employees will remain the same as promised. The income tax band thresholds will rise in line with…