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
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