From April 2022 the rate of National Insurance is to increase by 1.25%.

This will apply to both employees(Class 1) and the self-employed(Class 4.)

The increase won’t initially affect those above state pension age.

However from April 2023 the increase is renamed as a separate 1.25% ‘Health and Social Care Levy’ and the original current rates of National Insurance will then apply on top.

After April 2023, this levy will apply to those above the state pension age who are working and have employed/self-employed income above £9,568pa.

The levy will be collected through the current methods for reporting/paying national insurance.

Comment