This means the LPL will be £11,908 for the 2022-23 tax year which is equivalent to 13 weeks of the threshold at £9,880 and 39 weeks at £12,570. HMRC's document also includes weekly and monthly figures to help calculate weekly / monthly pay. The increases in NICs of 1.25% - first announced last year - also took effect from April 2022.
National Insurance rates and thresholds for 2022-23 confirmed. 03 November 2021. HMRC has confirmed the 2022-23 National Insurance (NI) rates in an email to software developers. The tables below show the earnings thresholds and the contribution rates. Earnings Thresholds
This will see the NIC threshold increase from £9,880 to £12,570 from 6 July 2022 and result in the alignment of the Primary Threshold (PT) for Class 1 NICs and Lower Profits Limit (LPL) for Class 4 NICs, with the personal allowance of £12,570.
The Health and Social Care Levy Act 2021 introduced a temporary 1.25 percentage point increase to Class 1, Class 1A, and Class 1B NIC rates for 2022/23. This was a transitional measure before the separate Health and Social Care Levy was to take effect next year.
Hourly rate; Aged 23 and above (national living wage rate) £9.50: Aged 21 to 22 inclusive: £9.18: Aged 18 to 20 inclusive: £6.83: Aged under 18 (but above compulsory school leaving age) £4.81
. 297 107 81 272 100 67 62 346
nic rates for 2022 23
