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 |
Employees' primary Class 1 rate above upper earnings limit |
2% |
3.25% - 6/4/22-5/11/22 |
Married women's reduced rate between primary earnings threshold and upper earnings limit |
5.85% |
7.10% - 6/4/22-5/11/22 |
Married women's rate above upper earnings limit |
2% |
3.25% - 6/4/22-5/11/22 |
Employers' secondary Class 1 rate above secondary earnings threshold |
13.80% |
15.05% - 6/4/22-5/11/22 |
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 |
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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.