Budget 2011: National Insurance to be incorporated in income tax

CHANCELLOR George Osborne announced today he has embarked upon a review of national insurance with a view to incorporating it into income tax.

Mr Osborne said the measure would "dramatically simplify the tax system".

"For decades, we have run national insurance and income tax as two different taxes and forced businesses large and small to operate two different system of administration," he told Parliament in his 2011 Budget.

He said that this created anomalies that are "legion", adding that the current two-tier sy... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...