Upcoming Changes To National Insurance
1 – From April 2022 National Insurance contributions will increase by 1.25%. This will help fund the NHS and social care, and raise an estimated £12bn a year.
2 – This will apply to employer Class 1, employee Class 1, Class 1A, Class 1B and Class 4 contributions. However it does not apply to those over state pension age.
3 – The threshold for employees paying the main rate of National Insurance contributions will increase from £9,568 to £9,880 per year.
4 – From April 2023, National Insurance will return to its current rate.
5 – However a new 1.25% Health and Social Care Levy will come in from April 2023. This will also affect those above state pension age unlike the temporary rise in National Insurance.
For more information please see the government’s dedicated page for National Insurance here.