23 November 2023
Following on from the mid tax year two percentage point National Insurance (NI) decrease which was announced in the Autumn Statement yesterday, please see the below tables to clarify the percentages to be used for the remainder of the 2023/24 tax year.
For employees and directors using the alternative method, use the below rates:
|
|
|
Employees Contributions |
|||
|
Contribution Table Letter |
Payment of earnings made on |
Earnings below LEL |
Earnings at or above LEL up to and including PT |
Earnings above the PT up to and including UEL |
Balance of earnings above the UEL |
|
A, F, H, M, V |
6 Apr to 5 Jan |
NIL |
0% |
12% |
2% |
|
A, F, H, M, V |
6 Jan to 5 Apr |
NIL |
0% |
10% |
2% |
|
B, I |
6 Apr to 5 Jan |
NIL |
0% |
5.85% |
2% |
|
B, I |
6 Jan to 5 Apr |
NIL |
0% |
3.85% |
2% |
|
C, S |
6 Apr to 5 Jan |
NIL |
NIL |
NIL |
NIL |
|
C, S |
6 Jan to 5 Apr |
NIL |
NIL |
NIL |
NIL |
|
J, L, Z |
6 Apr to 5 Jan |
NIL |
0% |
2% |
2% |
|
J, L, Z |
6 Jan to 5 Apr |
NIL |
0% |
2% |
2% |
For directors on the standard method (cumulative annual method), use the below rates for the whole tax year:
|
|
|
Employees Contributions |
|||
|
Contribution Table Letter |
Payment of earnings made on |
Earnings below LEL |
Earnings at or above LEL up to and including PT |
Earnings above the PT up to and including UEL |
Balance of earnings above the UEL |
|
A, F, H, M, V |
When applying the standard method, use these rates for the whole 2023/24 tax year |
NIL |
0% |
11.5% |
2% |
|
B, I |
NIL |
0% |
5.35% |
2% |
|
|
C, S |
NIL |
NIL |
NIL |
NIL |
|
|
J, L, Z |
NIL |
0% |
2% |
2% |
|
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