How much National Insurance will you pay this year?
manchestereveningnews.co.ukFollowing Rishi Sunak's spring budget announcement yesterday (March 23), it was revealed that some workers will pay less for their National Insurance contributions this year.
But, some workers may end up paying more as a result of the announcement that the threshold at which workers pay NI will rise to £12,570 in July.
The £3,000 increase means anyone earning less than the new threshold will not pay any NI. The Treasury claims this will save a "typical" worker £330 a year and benefit around 30 million workers.
But previous changes made to NI could mean workers will still pay more overall. Contribution earning over the threshold will see an increase of 1.25 percentage points in April, going from 12 per cent to 13.25 per cent, Hull Live reports. Read more: 'How are we supposed to live?' Mancs berate Rishi Sunak as Chancellor slammed for not helping millions with soaring bills Ministers claim the hike would help fork the cost of finances that have hit the NHS and social care sector in the past couple of years.
Read more on manchestereveningnews.co.uk