The National Insurance increase introduced by the Boris Johnson administration will be reversed from Nov. 6, with workers seeing benefits on their pay slips that month.
Ahead of his mini-budget today, Chancellor Kwasi Kwarteng confirmed he was canceling the 1.25 percentage point increase imposed by Rishi Sunak to pay for social care and clear the backlog of the NHS.
Mr Kwarteng said he would also scrap the planned Health and Social Care Levy, due to come into effect in April, raising around £13bn a year.
The Treasury said most workers will receive a reduction in their national insurance premiums directly through their employer’s payroll in their paychecks in November, although some may be delayed until December or January.
Use our calculator below to find out how much you will save each month by eliminating the tax.