National Insurance

One of the many big changes in the Chancellor’s mini budget was the reversal of the recent increase in National Insurance contributions. The Government had increased employees’ and employers’ National Insurance contributions (NICs) as of April 2022. It had been a contentious move by the Government, with some people seeing the policy as a necessary way of generating...

You can only make National Insurance deductions on earnings above the Lower Earnings Limit (LEL).  These rates are being frozen until April 2026. Class 1 National Insurance Thresholds2021 to 2022 LEL £120 per week£520 per month£6,240 per year Primary Threshold (PT)£184 per week£797 per month£9,568 per year Secondary Threshold (ST)£170 per week£737 per month£8,840 per year Upper Secondary Threshold (under 21) (UST)£967 per...