National Insurance Changes 2024: New NI Changes and How they affect you in 2024?
Hey there! Take a look at the latest scoop on the 2024 National Insurance changes. Discover the new adjustments and understand how they might impact you this year. Stay informed!
National Insurance Changes 2024
Hey folks, as we dive into 2024, there’s some big news on the National Insurance (NI) front. The National Insurance Contributions (Reduction in Rates) Act 2023 has shaken things up, impacting employee and self-employed NIC rates for the 2023–2024 tax year.
Come January 2024, brace yourselves for changes in UK National Insurance rates. NI plays a crucial role in the country’s tax system, funding state benefits and the NHS. It’s the tax on earnings and self-employed profits, hitting employers, employees, and the self-employed. Stay in the loop!
Hey everyone, we’ve dived deep into the nitty-gritty of the National Insurance Changes in 2024 in this post. Stick around to stay in the loop and catch all the latest updates. We’ve got you covered!
What is National Insurance?
To snag certain perks like the state pension, self-employed folks and regular workers need to cough up a set amount of taxes – that’s your national insurance. In the UK, this system has your back when you need medical help or find yourself out of a job. Fun fact: it’s been around since 1911!