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National Insurance – Rates and Allowances | 2023-24 | 2022-23 |
Lower weekly earnings limit, primary Class 1 | £123 | £123 |
Upper weekly earnings limit, primary Class 1 | £967 | £967 |
Primary weekly earnings threshold | £242 | £190 from 6 April 2022 to 5 July 2022 and £242 from 6 July 2022 to 5 April 2023 |
Secondary weekly earnings threshold | £175 | £175 |
Employees’ primary Class 1 rate between primary earnings threshold and upper earnings limit | 12% | 13.25% – 6/4/22-5/11/22 |
Employees’ primary Class 1 rate above upper earnings limit | 2% | 3.25% – 6/4/22-5/11/22 |
Married women’s reduced rate between primary earnings threshold and upper earnings limit | 5.85% | 7.10% – 6/4/22-5/11/22 |
Married women’s rate above upper earnings limit | 2% | 3.25% – 6/4/22-5/11/22 |
Employers’ secondary Class 1 rate above secondary earnings threshold | 13.80% | 15.05% – 6/4/22-5/11/22 |
Class 2 weekly rate | £3.45 | £3.15 |
Class 2 small earnings exception (SPT) | £6,725 per year | £6,725 per year |
Class 2 NICs liabilities are reduced to nil on profits between the SPT and lower profits limit | ||
Special Class 2 weekly rate for share fishermen | £4.10 | £3.80 |
Special Class 2 weekly rate for volunteer development workers | £6.15 | £6.15 |
Class 3 voluntary weekly rate | £17.45 | £15.85 |
Class 4 lower profits limit | £12,570 per year | £11,908 per year |
Class 4 upper profits limit | £50,270 per year | £50,270 per year |
Class 4 rate between lower profits limit and upper profits limit | 9% | 9.73% |
Class 4 rate above upper profits limit | 2% | 2.73% |
A National Insurance tax free allowance of £5,000 (2022-23: £5,000) is available to offset against employers’ Class 1 secondary NICs subject to certain restrictions.
The allowance is restricted to employers with employer NIC liabilities of under £100,000.
No employers’ contributions are payable in respect of weekly earnings up to £967 paid to employees under 21 nor for qualifying apprentices aged under 25.
It was announced as part of the Growth Plan 2022 that the 1.25% rise in National Insurance that came into effect on 6 April 2022 will be cancelled from 6 November 2022.
The Health and Social Care Levy that was set to be introduced from April 2023 has also been cancelled.
Disclaimer
In preparing and maintaining this section of our website every effort has been made to ensure the content is up to date and accurate. However, the law and regulations change continually and unintentional errors can occur and the information may be neither up to date nor accurate. We make no representation or warranty (including liability towards third parties), express or implied, as to the accuracy, reliability or completeness of the information on the website. Please don’t act directly on anything you read – contact us first for advice on how it may affect your individual circumstances.
