Now we are in a new tax year, the NI thresholds have increased. Along with the usual NI thresholds, there is now a Freeport upper secondary threshold.
One of the significant changes for the 2022/23 tax year is the rise in primary threshold from £823/mth to £1,048/mth. The change doesn’t come in until the 6th July 2022.
Below is a table showing the monthly 2022/23 Class 1 NI threshold.
|Class 1 National Insurance – 2022/23||Monthly thresholds|
|Lower earnings limit||£533/mth|
|Primary threshold||£823/mth 6th April 22 to 5th July 22|
£1,048/mth 6th July 22 – 5th April 23
|Freeport upper secondary threshold||£2,083/mth|
|Upper secondary threshold (under 21)||£4,189/mth|
|Apprentice upper secondary threshold (apprentice under 25)||£4,189/mth|
|Veterans upper secondary threshold||£4,189/mth|
|Upper earnings limit||£4,189/mth|
Keep an eye out for further blog posts updating you with the changes that have come in for the 2022/23 tax year.
For any payroll questions please get in touch!