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In her Budget, the Chancellor announced the rate of employer's National Insurance contributions (NICs) will increase by 1.2 percentage points to 15% from April 2025. (currently 13.8%).
The impact of the proposed measure on Papworth Trust is estimated to be £234k, which is previously unbudgeted for and we will now need to find the monies to fund it.
The decision to increase employer NICs without providing an exemption for charities will add significant strain at a time when we are already under pressure. Like many charities, we find ourselves already covering funding gaps in Government contracts through fundraising efforts or dipping into cash reserves; this would exacerbate the issue further. We urge the Government to reimburse the increased employer NICs to the voluntary sector, just as it has done for the public sector.
We’ve signed a joint letter coordinated by the NCVO /ACEVO calling on the Government to exempt charities.
You can find the joint letter here: www.ncvo.org.uk/news-and-insights/news-index/open-letter-chancellor-national-insurance/
We appeared on BBC Look East’s evening programme on Friday 8 November, you can read more about it in the BBC article here: www.bbc.co.uk/news/articles/cm20kv6kg1go
