Income tax and National Insurance Contributions are our biggest taxes. Together they raise almost half of all tax revenues.

National Insurance Contributions were cut at the start of the year, but we’re in the middle of a multiyear freeze in tax thresholds that will amount to a tax rise of over £40 billion by the time it’s finished. And these are just the latest in a string of changes in how we tax personal incomes.

From cliff edges and personal allowances, to Scotland's 6band income tax system and The Beatles' scheme to minimise their tax bill, we cover all things income tax.

To do that, we're joined by Helen Miller, Deputy Director at IFS and head of our tax sector, and Dan Neidle, a tax lawyer and founder of Tax Policy Associates.

Find out more: https://ifs.org.uk/

Become a member: https://ifs.org.uk/individualmembership

00:00 1:44: Intro
1:45 4:04: Income tax and national insurance explained
4:05 7:12: Employer vs employee national insurance
7:13 13:01: Employee vs selfemployed tax
13:02 14:45: The history of NI
14:46 24:30: High marginal tax rates
24:31 26:52: High historical tax rates
26:53 33:22: Income tax in Scotland
33:23 35:26: Are there limits to taxation?
35:27 45:18: How can we reform the tax system?
45:19 46:01: Conclusion