NATIONAL INSURANCE

National Insurance - Rates and Allowances

2023-24

2022-23

Lower weekly earnings limit, primary Class 1

£123

£123

Upper weekly earnings limit, primary Class 1

£967

£967

Primary weekly earnings threshold

£242

£190 from 6 April 2022 to 5 July 2022 and £242 from 6 July 2022 to 5 April 2023

Secondary weekly earnings threshold

£175

£175

Employees' primary Class 1 rate between primary earnings threshold and upper earnings limit

12%

13.25% - 6/4/22-5/11/22
12.00% - 6/11/22-5/4/23

Employees' primary Class 1 rate above upper earnings limit

2%

3.25% - 6/4/22-5/11/22
2.00% - 6/11/22-5/4/23

Married women's reduced rate between primary earnings threshold and upper earnings limit

5.85%

7.10% - 6/4/22-5/11/22
5.85% - 6/11/22-5/4/23

Married women's rate above upper earnings limit

2%

3.25% - 6/4/22-5/11/22
2.00% - 6/11/22-5/4/23

Employers' secondary Class 1 rate above secondary earnings threshold

13.80%

15.05% - 6/4/22-5/11/22
13.80% - 6/11/22-5/4/23

Class 2 weekly rate

£3.45

£3.15

Class 2 small earnings exception (SPT)

£6,725 per year

£6,725 per year

Class 2 NICs liabilities are reduced to nil on profits between the SPT and lower profits limit

Special Class 2 weekly rate for share fishermen

£4.10

£3.80

Special Class 2 weekly rate for volunteer development workers

£6.15

£6.15

Class 3 voluntary weekly rate

£17.45

£15.85

Class 4 lower profits limit

£12,570 per year

£11,908 per year

Class 4 upper profits limit

£50,270 per year

£50,270 per year

Class 4 rate between lower profits limit and upper profits limit

9%

9.73%

Class 4 rate above upper profits limit

2%

2.73%

A National Insurance tax free allowance of £5,000 (2022-23: £5,000) is available to offset against employers' Class 1 secondary NICs subject to certain restrictions.

The allowance is restricted to employers with employer NIC liabilities of under £100,000.

No employers' contributions are payable in respect of weekly earnings up to £967 paid to employees under 21 nor for qualifying apprentices aged under 25.

It was announced as part of the Growth Plan 2022 that the 1.25% rise in National Insurance that came into effect on 6 April 2022 will be cancelled from 6 November 2022.
The Health and Social Care Levy that was set to be introduced from April 2023 has also been cancelled.

 


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