Changing Your National Insurance Threshold Work Out How Much Tax You Ll Actually Pay
An HMRC tax tool launched to help workers understand the impact of their changing National Insurance contributions falsely appears the government is reducing their bills rather than increasing them, campaigners have said. From Wednesday, the threshold at which most people start paying National Insurance on their earnings rises from £9,880 to £12,570 a year – a change hailed as the prime minister’s biggest tax cut of a decade, despite increasing the tax rate earlier in 2022, meaning the vast majority of workers are still paying extra....