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national insurance

self-employed national insurance

NIC Position If You Are Employed and Self-Employed, Maximum Contributions and Deferment

Despite the increase in National Insurance Contributions (NIC) in the April 2022 Spring Statement (the increase being replaced by the Health and Social Care Levy in July 2022) there remains a significant financial advantage for individuals working as self-employed rather than as employees. However, complications can arise where an individual is both employed and self-employed …

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What The Forthcoming National Insurance Increases Will Mean for You

Employed? What The Forthcoming National Insurance Increases Will Mean for You

To help meet the costs of health and adult social care, a new levy, the Health and Social Care Levy, is introduced from 6 April 2023. Payment of the levy, which is set at the rate of 1.25% of qualifying earnings, is linked to the payment of National Insurance contributions. Prior to the introduction of …

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national insurance contributions

National Insurance contributions for 2021/22

The 2020/21 tax year starts on 6 April 2021. From that date, new thresholds apply for National Insurance purposes.   Employees and Employers Employees pay primary Class 1 National Insurance contributions on their earnings, while secondary Class 1 contributions are payable by their employees. Employees come within the ambit of Class 1 National Insurance contributions …

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