This article lists the changes in the National Insurance Contribution rates effective from the 6th of November 2022
As you may be already aware, the National Insurance rates are changing from the 6th of November 2022.
The Health and Social Care Levy will no longer go ahead. The temporary 1.25 percentage point increase in National Insurance rates is being reversed for the rest of the financial year.
These changes have been implemented in Primo.
Employee's NIC:
The previous National Insurance Contribution rates will still be used if the payroll is re-processed for pay periods before the 6th of November 2022. The new rates will be effective from the 6th of November 2022 until the 5th of April 2023.
Director's NIC:
The new rates will be applied for the cumulative calculation of the director's National Insurance Contribution. Re-processing previous periods will also use the new rates to calculate the director's National Insurance contributions.
Click here to check the new National Insurance Contribution Rates. For more information, click here to view the government website.