NATIONAL INSURANCE CONTRIBUTIONS – WHAT YOU NEED TO KNOW
Released On 9th Dec 2022
Changes to National Insurance announced in the Autumn Statement need to be made clear on employee payslips as announced by HM Revenue & Customs (HMRC).
The repeal of the 1.25 per cent National Insurance Levy uplift on 6 November, means that National Insurance rates will go back to 12 and 2 per cent for employee contributions, and 13.8 per cent for employer contributions.
It is the responsibility of employers to ensure that these changes are displayed on employee payslips.
The HMRC update also confirmed the removal of the separate Health & Social Care Levy (SCL) which was set to replace the NI Levy increase of 1.25 per cent from April 2023.
For more help and advice related to the latest changes to National Insurance, please speak to our team.
