NIC – updated guidance

HMRC have updated their guidance on Rates, allowances and limits for National Insurance. The guidance has been updated to show the Lower Profits Limit for when self-employed people start paying Class 4 NIC.

https://www.gov.uk/government/publications/rates-and-allowances-national-insurance-contributions?utm_medium=email&utm_campaign=govuk-notifications-topic&utm_source=d24f78f7-a995-43a7-86d9-4c70a6d50f55&utm_content=daily

HMRC have also added helpbook CA38 for 2023-24, Calculate contributions for employees who must pay National Insurance for current and previous tax years. This includes NI contributions tables A, F, H, J, L, M, V and Z.

https://www.gov.uk/government/publications/ca38-national-insurance-contributions-tables-a-and-j?utm_medium=email&utm_campaign=govuk-notifications-topic&utm_source=d9fa147e-1c11-4d8c-bb1a-7575ab7ac81b&utm_content=daily

Related content from Claritax Books

The complex rules for National Insurance contributions are covered in depth in National Insurance Contributions.