Calculate your National Insurance as employees will pay just 10% from January 6
Never miss any of the fun stuff. Get the biggest stories and wackiest takes from the Daily Star, including our special WTF Wednesday email
Thank you for subscribing!
Never miss any of the fun stuff. Get the biggest stories and wackiest takes from the Daily Star, including our special WTF Wednesday email
We have more newsletters
Members of the public can now find their National Insurance rate with our very own calculator as employees, from January 6, will pay just 10%.
Chancellor Jeremy Hunt announced employees will pay just a tenth of their National Insurance contributions in the new Autumn Budget, bringing a drop in payments for those in work.
Dropping from 12% to 10% for those earning between £12,571 and £50,271 per year means savings for those paying out on their National Insurance. For the average full-time salary of £34,963, a saving of £448 per year can be expected.
READ MORE: 'Empty' UK shopping centre blasted for 'no shops' after Tesco and The Range leave
For the latest news and financial updates from across the country, click here.
Now, our new gadget to tell you how much you can save on your National Insurance number now the new budget has been released.
Changes will also be made to the self-employed who will find themselves making savings of 2% after the National Insurance pay-in was decreased from 12% to 10%.
Chancellor Hunt said he will abolish the "Class 2" National Insurance charge for the self-employed making more than £12,570. An average self-employed person will reportedly make a saving of £192 per year.
Those in "Class 4" for the National Insurance brackets who find themselves paying out 9% on their earnings, will see their percentage drop to 8% due to the upcoming budget.
Members of the public can now use our Budget Calculator below and feast their eyes on their soon to be reduced National Insurance pay outs.
-
UK weather maps show 500mile-wide snow storm is soon set to bring '5cm per hour'
A dip in National Insurance payments come as Martin Lewis warns of a "crucially important" change for couples living together while unmarried.
The money-saving expert has said there could be "unpleasant" money issues buried deep within unmarried couples and cohabiting without a marriage certificate will "mean nothing" in death, the Daily Star reported.
For the latest breaking news and stories from across the globe from the Daily Star, sign up for our newsletter by clicking here.
- Money
- Jobs
- Conservative Party
Source: Read Full Article