Category Archives: National Insurance Contributions (NICs)

National Living Wage will rise to £9.50 an hour

The 59p increase for workers over 23 – up 6.6% from £8.91 reflects the inflationary pressure outlined here a few weeks ago. The new rates will rise from 1 April 2022 as follows: National Living Wage for over-23s: From £8.91 … Continue reading

Posted in Economics, Inflation, Low pay, Minimum wage rates, National Insurance Contributions (NICs), Pay & inflation, Tax, Trades Unions, Wages and Pay-rates, Wealth inequality | Tagged , , , | Leave a comment

IPSE on the Dividend Tax and NIC increases

Some light weekend reading for you: IPSE have a post up outlining how the NIC increases to pay for social care will impact freelancers, along with a view that the changes to Dividend Tax means that “Government is making it … Continue reading

Posted in Freelance working, Freelancer rights, IR35, National Insurance Contributions (NICs), Personal Service Companies, Tax | Tagged , | Leave a comment

More analysis of Social Care Levy announcement

There’s a useful Twitter thread here from The Resolution Foundation with some overnight analysis of yesterday’s announcements, along with a report. There’s also a panel discussion here if you’re really interested… NEW OVERNIGHT ANALYSIS: yesterday the PM pushed Conservatives away … Continue reading

Posted in Labour Party, National Insurance Contributions (NICs), Politics, Tax, The Conservative Party | Tagged , , | Leave a comment

The proposed new Health and Social Care Levy

I won’t go into the question of whether or not it’s right to fund this in this way here – this post is mainly an outline of what the proposed levy means for workers in general and freelance workers in … Continue reading

Posted in National Insurance Contributions (NICs), Tax | Tagged , | 2 Comments

National Insurance Contributions to rise?

This story is a few weeks old now, but today I’ve been reminded of just how much the balance between NIC and taxes changes the dynamics in those big decisions that people make when deciding to be a freelancer or … Continue reading

Posted in Freelance working, National Insurance Contributions (NICs), Personal Service Companies, Tax | Leave a comment

Calculating Tax and National Insurance

When you are self-employed, it is good to know how much tax (and other contributions) you are paying, how to make sure that your tax is fair when you are going to be expected to pay it (so that you … Continue reading

Posted in National Insurance Contributions (NICs), Tax | Tagged , | Leave a comment

Statutory Sick Pay and freelance working

For the purposes of this post, I’m taking the term ‘freelance’ in its broadest form. Many people who are on either short fixed-term contracts, or non-permanent PAYE contracts tend to regard themselves as ‘freelancers’. People who are ‘self-employed’ have few … Continue reading

Posted in Disability equality, Employment Law and Rights, Equality, Freelance working, Freelancer rights, Illness and disability, National Insurance Contributions (NICs), Welfare and benefits | Tagged , , , | Leave a comment

Understanding National Insurance Contributions (NICs) for the self-employed

Employees generally pay higher NICs than the self-employed unless they are very low paid. This is because Class 2 NICs are currently charged at a flat rate of £3.05 per week (2021-2 figures) If you are self-employed, you pay two … Continue reading

Posted in National Insurance Contributions (NICs) | Tagged , | Leave a comment