Tag: NHS

National Insurance

NI Card PictureYou 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

The amount of National Insurance you pay depends on your employment status and how much you earn.

If you’re employed

You pay Class 1 National Insurance contributions. The rates for most people for the 2021 to 2022 tax year are:

Your pay Class 1 National Insurance rate
£184 to £967 a week (£797 to £4,189 a month) 12%
Over £967 a week (£4,189 a month) 2%

National Insurance increase from April 2022

From 6 April 2022 to 5 April 2023 National Insurance contributions will increase by 1.25%. This will be spent on the NHS and social care in the UK.

The increase will apply to:

  • Class 1 (paid by employees)
  • Class 4 (paid by self-employed)
  • secondary Class 1, 1A and 1B (paid by employers)

The increase will not apply if you are over the State Pension age.

You can find more details here