Changes to the way National Insurance contributions are made have come into affect this month meaning that tens of thousands of workers will see an increase in the amount of money they take home in their July pay packet. Former chancellor Rishi Sunak announced in the spring statement in March that the starting threshold will rise by £3,000 to £12,570 from July meaning employees across the UK will keep more of what they earn before they have to start paying personal tax.
The cut, worth more than £6bn, is expected to have benefited almost 30m working people with a typical employee saving more than £330 in the year from July 6. The higher-rate threshold will remain at £50,270.
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