Mzaad

Calculate how much your take-home pay will change from Saturday

google news icon

National Insurance will be reduced from 12% to 10% on workers’ incomes between £12,570 and £50,270 from Saturday.

The changes, announced by the Prime Minister in the autumn, will affect around 27 million payroll workers across the UK.

Someone on the UK average salary of £35,000 could save £450 a year, or £37.38 per month, with this change.

Use our tool below for a rough guide to what tax changes can be expected for most people, as there are other variables not included which might affect how much tax you pay including being in receipt of the blind person’s allowance or the marriage allowance. It also assumes you are not self-employed and are under pension age…

There are also national insurance cuts for the self-employed too, from April. This includes the scrapping of Class 2 contributions, as well as a reduction of the rate of Class 4 contributions from 9% to 8% for the £12,570 to £50,270 earnings bracket.


JMG-AD

These will impact nearly two million self-employed people, according to the Treasury.

While many campaigners welcomed the national insurance announcement last autumn, they pointed out that the tax burden remains at record high levels for Britons – thanks in part to the threshold at which people start paying income tax being frozen, rather than rising with inflation.

Chancery-Solicitors-Ad-banner-v2-updated
LEXPERT SOLICITORS LLP

Next Post

Lithuania Makes Harder to Bring Foreign Workers

Sat Jan 6 , 2024
Follow us on Google News to get latest news In order to prevent abuse of work-related immigration procedures, Lithuania has decided to strengthen the control of labor immigration. Lithuania’s Minister of the Interior Agnės Bilotaitė recently signed a regulation changing the procedure for issuing temporary residence permits to foreign nationals […]

You May Like

Subscribe Our Newsletter

Daily Dazzling Dawn is the first and only international and non-profitable newspaper, which is 100% ownership of professional journalists from Bangladeshi origin with 20 years of experience in global journalism. The main aim of the newspaper is promoting ethical journalism with truth, accuracy and proficiency.

Editor in Chief

Dulal Ahmed Chowdhury

Dulal Ahmed Chowdhury is the Editor of The Daily Dazzling Dawn. Previously, he has been serving in important positions in all the famous national dailies of the Bangladesh since the nineties. He has played a commendable role in journalism by participating in various events at the national and international levels. United Nations Conference, World Climate Conference, SAARC Summit are notable among them.

Quick Jump

error: Content is protected !!