Rise in National Insurance – 29/09/2021

Boris Johnson confirmed a rise in National Insurance for Health and Social Care.

You pay mandatory National Insurance if you’re 16 or over and are either:

  • An employee earning above £184 a week
  • Self-employed and making a profit of £6,515 or more a year

From April 2022, National insurance will rise by 1.25 percentage points:

  • The current 12% rate on earnings between £9,564 and £50,268 will increase to 13.25%
  • The current 2% rate on earnings over £50,268 will rise to 3.25%
  • Workers above state-pension age will also contribute to the new levy
  • Employers will also need to contribute an additional 1.25% (employer NI is currently 13.8%)
  • Anyone earning just under £10,000 still be exempt

If you have any questions regarding Furlough, we have Payroll Specialists on hand to offer expert advice and guidance. For any queries, please do not hesitate to contact us on 01992 714010 or info@accountsnavigator.com.

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Knowing how to take control of your business finances to maximise profits can be difficult, especially with the current climate. Knowing the common mistakes to avoid can be difficult and can leave you feeling unsure.

Our Director Andrea L Richards has written her E-Book on the most common mistakes made by businesses and has provided expert advice on how to overcome them. 

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