Rishi Sunak announced in the Spring Statement on Wednesday 23 March 2022 that the government would be increasing the National Insurance threshold (the amount of income earned before you start paying National insurance).
Currently, the primary threshold for National Insurance Contributions (NICs) is £9,880. From July 2022, the threshold will be increasing by £3,000 to £12,570.
In September 2021, it was announced that National Insurance would be rising by 1.25 percentage points.
The Construction Industry is certainly a difficult one to master – turning your hobby into a career comes with plenty of ups and downs. Knowing the key mistakes to avoid and the top tips to follow is essential for any business.
This article is copyright © 2023