1.25% national insurance rise from April 2022

October 27, 2021|In KRW Tax news|By Keith Witchell

The Budget documents confirm Rishi’s announcement last month that NIC will increase by 1.25% for both employees and employers from April 2022, with all wage levels over the NIC threshold affected. Employees will therefore pay 13.25% on earnings up to £50,270 pa, and 3.25% on earnings above this level, while the rate for employers will increase from 13.8% to 15.05%. Class 4 NIC rates for the self-employed also increase, from 9% to 10.25%, and from 2% to 3.25% on higher profits.

For further advice on this matter, please contact me.

Keith Witchell