From 6th July 2022 the NI threshold will rise by £2,690 from £9,880 to £12,570, bringing the NICs and income tax thresholds into line for the first time. This means that employees will be able to earn more before they start to pay NI.
For company directors the changing threshold means that £11,901 is the optimum salary to be paid without any NI charge. The Marsland Nash Payroll team have already actioned this change for our director payrolls.
Contact the team for more information on how we can support you and your business!