Nationwide insurance coverage: What’s the brand new Well being and Social Care tax and the way will it have an effect on me?

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By Anthony Reuben & Tom Edgington
BBC News

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A new health and social care tax is being introduced to help the NHS recover from the Covid pandemic and improve social care in England.

But there has been criticism – including from within the Conservative Party – that it will be unfair on younger people.

What is the new tax and who will pay it?

Employees and the self-employed will pay more tax from April 2022.

At first this will be as a 1.25 percentage point increase in National Insurance.

From April 2023 National Insurance will return to its current rate, but a new health and social care tax will be introduced at a rate of 1.25% – making up for the change to National Insurance.

On wage slips it will appear as a “Health and Social Care Levy”.

The levy – unlike National Insurance – will also be paid by pensioners who work.

People who earn under £9,564 don’t have to pay National Insurance or the new levy.

Employers will pay more National Insurance – and the levy.

How much…