Accountants have put a reduction in employers’ national insurance contributions (NICs) at the top of their election wishlist.
Cuts to NICs were seen as the highest priority for tax cuts with 49 per cent of accountants favouring a reduction, according to figures released today by Bloomsbury Professional, a tax and accounting information group.
The second most important tax cut was employees’ NICs.
“National Insurance is often seen as a tax on creating new jobs. At this still early stage of the UK’s recovery, easing the burden on businesses could help provide a much-needed boost for growth and the labour market,” Martin Casimir, the managing director.
“While moves to increase the tax-free personal allowance in the Budget are welcome, reducing employees’ NICs would also go a long way to helping workers feel better off – particularly those on lower incomes.”