Ophthalmic Services: Employers' Contributions
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the increase in employer National Insurance contributions on the financial sustainability of opticians and eye care practices.
Answered by Dan Tomlinson
The Government has protected the smallest businesses and charities from the impact of the increase to employer National Insurance by increasing the Employment Allowance from £5,000 to £10,500. That means more than half of businesses with NICs liabilities either gain or see no change this financial year.
A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer NICs. The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.
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