Many people will start to see a boost in their pay packets this month as they grapple with bills and the soaring cost of living. From Wednesday July 6, the threshold at which people pay National Insurance (NI) will increase.
The move follows a controversial 1.25 percentage point increase in NI in April, to help pay for health and social care, which came amid a string of other bill hikes, including a jump in the energy price gap. But starting thresholds for paying NI starting will now rise from £9,880 to £12,570 from July 6.
The UK Government has previously said this will benefit nearly 30 million working people with a typical employee saving over £330 in the year from July. 70 per cent of workers who pay National Insurance contributions (NICs) will pay less, even after accounting for the health and social care levy, the Government said previously.
