Today the government confirmed that there will be a new levy introduced to pay for the health and social care crisis that we are currently facing as a country. Although it has been announced as a simple 1.25% levy, there is a bit more to it.
From April 2022 there will be an additional 1.25% added on top of National Insurance. This is both to the employee and the employer and the self employed. This method of collecting it is temporary, because HMRC do not have the ability to get their systems in place.