How the NI reversal affects class 1A, 1B and directors NI
27 September 2022
It has been announced that the increase to National Insurance (NI) rates is to be scrapped from 6 November 2022. This has many implications, one of which is on NI calculations that are performed annually.
For these we will see blended rates, proportionally splitting them across the year.
Class 1A and class 1B contributions will be set at 14.53% for the year.
For directors each band has a new percentage:
|
2021-22 |
2022-23 (as of this announcement) |
|
12% |
12.73% |
|
2% |
2.73% |
|
13.8% |
14.53% |
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