The national insurance threshold was raised yesterday: how will you be impacted?
Written by Vicky Shaw, PA Personal Finance Correspondent
NI starting thresholds will rise from £9,880 to £12,570 from July 6, meaning many people will see more money in their pay packets from this month.That depends on how much you earn and whether it was enough to meet the previous threshold. Nearly 30 million working people will benefit, with a typical employee saving over £330 in the year from July, according to the UK Government.
With everyday prices such as food and fuel rising sharply, some households may not feel better off in practice, even with more money in their pay packet. On a £40,000 salary, they would have paid around £304 per month before April and seen this rise to £333. This will now fall to around £303. Back in 2019/20, the total number of higher rate and additional rate taxpayers combined was approaching 4.3 million.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Changes to National Insurance threshold may give people an income boostThe changes to the National Insurance threshold come into effect today
Lire la suite »
Cost of living: 'Biggest tax cut in a decade' takes effect to help 30 million peopleThe threshold for paying National Insurance contributions rises to allow the average worker to keep £330 more of their earnings as the cost of everyday goods and services continue to shoot up.
Lire la suite »
Will you pay less tax? Online calculator reveals if you are better off after NI changesAn online National Insurance calculator has launched which estimates how much money you could save following the rise of the threshold.
Lire la suite »
Huge tax cut from today set to save millions of people £330The level at which people start paying National Insurance is rising
Lire la suite »
Two million workers free from National InsuranceEmployees can now earn £12,570 a year before paying National Insurance tax, up from £9,880.
Lire la suite »
Leeds set for heatwave this weekend as summer scorcher weather returns to UKParts of the UK are most likely to reach their heatwave threshold on Sunday
Lire la suite »