UK govt raises NI contributions threshold

by | Mar 23, 2022

Share this article

The UK government on Wednesday lifted the national insurance (NI) threshold in an attempt to deflect criticisms from the upcoming manifesto-busting rise in NI contributions next month.

Finance Minister Rishi Sunak told parliament he was increasing the threshold by £3,000 this year, up from a planned rise of £300 and equalising the NI contributions threshold with the personal tax allowance of £12,570.

Sunak came under fire for insisting that the NI contributions increase, effectively a tax rise, would go ahead to fund plans for social care.

 
 

Share this article

Related articles

Sign up to the IFA Magazine Newsletter

Trending articles

IFA Talk logo

IFA Talk is our flagship podcast, that fits perfectly into your busy life, bringing the latest insight, analysis, news and interviews to you, wherever you are.

IFA Talk Podcast - listen to the latest episode

x