For 2022 to 2023, the National Insurance contributions rates for directors are different. Read CA44 to find out more about rates for directors. 3. Class 2 and Class 4 National Insurance (self The rate from 6 April 2023 to 5 April 2024 on expenses and benefits is 13.8%. They must also pay Class 1A on some other lump sum payments, for example redundancy payments . HMRC has detailed National Insurance contributions Income taxes Share This observation summarises some of the key facts about how National Insurance contributions (NICs) work and who will be paying more in NICs from April 6th 2022. 1. Who pays NICs? For 2022/23 the point at which the self-employed person starts to pay Class 2 NICs will increase to £11,908. This means those with profits between the Small Profits Threshold and the Lower Profits Limit will not pay Class 2 NICs, but will still be able to access entitlement to contributory benefits. In 2022/23, prior to the introduction of the Health and Social Care Levy in the following tax year (to fund health and social care in England and part of the UK Government's ' Build Back Better ' initiative), NICs rates will increase by 1.25%. The following table shows the main rates in 2022/23 compared to those that apply in 2021/22: The rates for most people for the tax year 2023 to 2024 are: Your pay. Class 1 National Insurance rate. £242 to £967 a week (£1,048 to £4,189 a month) 12%. Over £967 a week (£4,189 a month .

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