Resources

Check out our resources library for useful articles and up to date news.

Changing National Insurance in July

June 9, 2022

The rates for national insurance contributions (NIC) increased by 1.25 percentage points for everyone on 6 April 2022. From 6 July the NIC starting threshold will rise to £12,570 per year (£1,048 per month) for employees.

This means that some lower paid employees will have more Class 1 NIC deducted from their pay from April to June 2022 but may pay no NIC from July 2022 onwards.

Employers are not so fortunate as the threshold from which they pay Class 1 NIC on employees’ salaries remains at £9,100 per year (£758 per month) for most workers. Employees who are apprenticed or aged under 21 have a higher NIC threshold at £50,270 per year (£4,189 per month).

 

LilyIris Accounting logo

Working With Us

We are always excited when new clients come on board and we can make a difference to their business.

Are you:

  • An existing Limited Company
  • Searching for a bookkeeper that does more than simply reconcile your bank
  • Looking for professional support for your business journey

Talk to Us - Book a Discovery Call 

Are you a Sole Trader, Quickbooks/Sage user or looking for tax advice?
We only do Sole Trader Tax Returns for people working in the Construction Industry. We don't do any other Sole Trader Tax Returns, tax planning or use Quickbooks/Sage - but we can recommend some fabulous people that do!

Call Us

01454 329507

Email Us

Have a Question Or Need to Make An Appointment? Email Us!

Social Media