Agency Workers: National Insurance Contributions
(asked on 7th February 2022) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the impact of increased National Insurance Contributions on people who are employed under umbrella companies.
This question was answered on 10th February 2022
From April 2022, all liable employees, including individuals employed through an umbrella company, will pay the 1.25 percentage point increase in National Insurance Contributions (NICs). From April 2023, a new Health and Social Care levy will apply and the NICs rates will reduce by 1.25 percentage points. The highest earning 15 per cent will pay over half the revenue generated. 6.1 million people earning less than the Primary Threshold (equivalent to £9,880 a year in 2022-23) will not pay the Levy.
From April 2022, all liable employees, including individuals employed through an umbrella company, will pay the 1.25 percentage point increase in National Insurance Contributions (NICs). From April 2023, a new Health and Social Care levy will apply and the NICs rates will reduce by 1.25 percentage points. The highest earning 15 per cent will pay over half the revenue generated. 6.1 million people earning less than the Primary Threshold (equivalent to £9,880 a year in 2022-23) will not pay the Levy.