During 2022/23 the rates of NICs for both employees and employers, as well as the primary threshold for employees, were changed: In the Spring Statement 2022 the then Chancellor Rishi Sunak announced that the primary threshold, set at £190 from 6 April 2022, would be increased to £242 from 6 July 2022.

This will see the NIC threshold increase from £9,880 to £12,570 from 6 July 2022 and result in the alignment of the Primary Threshold (PT) for Class 1 NICs and Lower Profits Limit (LPL) for Class 4 NICs, with the personal allowance of £12,570. For the tax year 2022-23, there is no NI payable on profits of up to £11,908. The national insurance rates for 2022-23 are affected with an increase of 1.25% levy (announced in Autumn budget 2021). You can download the ACCA budget guide for all applicable current rates and allowances. For 2022/23 the point at which the self-employed person starts to pay Class 2 NICs will increase to £11,908. This means those with profits between the Small Profits Threshold and the Lower Profits Limit will not pay Class 2 NICs, but will still be able to access entitlement to contributory benefits.

In 2022/23, prior to the introduction of the Health and Social Care Levy in the following tax year (to fund health and social care in England and part of the UK Government's ' Build Back Better ' initiative), NICs rates will increase by 1.25%. The following table shows the main rates in 2022/23 compared to those that apply in 2021/22:

\n\n nic rates for 2022 23
The legislation to deal with the changes seeks to average their rates of NIC for the whole of 2022/23: it includes new NIC rates of 12.73% and 2.73% for payments to statutory directors for the whole of 2022/23 and 14.53% for employers.
TAX NEWS Spring Statement: NIC measures welcome but not as simple as the Chancellor made it sound Article Published: 23 Mar 2022 Back to top National insurance contributions thresholds will rise for employees and the self-employed, together with the employment allowance for small employers. Class 2 NIC will include a zero-rate band.
What you should know about 2022-23 rates. There were a lot of National Insurance changes in 2022-23. In April 2022, Class 1 rates went up by 1.25 percentage points to 13.25% on earnings between £9,880 and £50,270, and 3.25% on earnings over £50,270. The National Insurance threshold rose on 6 July 2022, from £9,880 to £12,570.
The rate from 6 April 2023 to 5 April 2024 on expenses and benefits is 13.8%. They must also pay Class 1A on some other lump sum payments, for example redundancy payments . HMRC has detailed
Tax rate. 2022/23. Tax rate. 2023/24. Tax rate. Up to £37,700. 7.5%. Up to £37,700. 8.75%. Up to £37,700. 8.75%. £37,701 - £150,000. 32.5%. £37,701 - £150,000. 33.75%. £37,701 - £125,140. 33.75%. Over £150,000. 38.1%. Over £150,000. 39.35%. Over £125,140. 39.35%
For 2022 to 2023, the National Insurance contributions rates for directors are different. Read CA44 to find out more about rates for directors. 3. Class 2 and Class 4 National Insurance (self
HMRC has confirmed the 2022/23 NIC rates in an email to software developers. The lower NIC thresholds and limits will rise by 3.1%, in line with CPI inflation to September 2021 (although inflation reached 5.4% in December 2021).
National Insurance Self-employed National Insurance rates If you're self-employed and your profits are £12,570 or more a year, you usually pay Class 2 and Class 4 National Insurance rates. You
20 December 2022. The Class 2 and 4 National Insurance rates have been updated for 2022 to 2023. 6 November 2022. The Class 1, 2 and 4 National Insurance rates have been updated for
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