National Insurance Contributions Increased From 6 April 2022

Rates of NI Contributions have increased by 1.25 % from 6 April 2022.

New rates for NI Class 1.

Employees – 13.25% on earnings above the primary threshold up to and including upper earnings limit (3.25% on balance of earning above upper earning limit)

Employers – 15.05 % Earnings at or above lower earnings limit up to and including secondary threshold

Further details and full rates HERE.

Any questions, please let us know.

Irina Inayat

Penn Accounts

0207 183 6623

The information provided in this article is not intended to constitute professional advice and you should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.