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The national insurance threshold will increase on 6 July, 2022

National insurance bills, which were pushed up by higher rates in April, are set to go down again on 6 July when the repayment threshold increases.

July’s national insurance change is effectively a tax cut. The threshold will rise from £9,880 to £12,570, so less of your salary will be subject to NI.

Around 30 million people will see their take-home pay increase, and 2.2 million will be taken out of paying NI entirely under the changes.

Those on lower incomes will make some welcome savings from

July, while higher earners will fork out more compared to 2021/2022.

Stay informed with Albatross Accounting team. We are Accountants, Tax Advisers, and Business consultants in London. We specialise in working with Small to Medium sized businesses.

Contact us for more information.

London: 020 7060 1811

Essex: 012 4586 1357

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