| National Insurance – Rates and Allowances | 2023-24 | 2022-23 |
| Lower weekly earnings limit, primary Class 1 | £123 | £123 |
| Upper weekly earnings limit, primary Class 1 | £967 | £967 |
| Primary weekly earnings threshold | £242 | £242 |
| Secondary weekly earnings threshold | £175 | £175 |
| Employees’ primary Class 1 rate between primary earnings threshold and upper earnings limit | 12% | 12% |
| Employees’ primary Class 1 rate above upper earnings limit | 2% | 2% |
| Class 1 NI tax free allowance of £5,000 is available to offset against employers’ Class 1 contributions. Payroll must be > 1 person and the allowance is restricted to employers with NIC < £100,000. No employers’ contributions are payable in respect of weekly earnings up to £967 paid to employees under 21 nor for qualifying apprentices aged under 25. |
| Married women’s reduced rate between primary earnings threshold and upper earnings limit | 5.85% | 5.85% |
| Married women’s rate above upper earnings limit | 2% | 2% |
| Employers’ secondary Class 1 rate above secondary earnings threshold | 13.80% | 13.8% |
| Class 2 weekly rate | £3.45 | £3.15 |
| Class 2 small profits threshold (SPT) | £6,725 per year | £6,725 per year |
| Class 2 NICs liabilities are reduced to nil on profits between the small profits threshold (SPT) and lower profits limit |
| Class 3 voluntary contributions weekly rate | £17.45 | £15.85 |
| Class 4 self-employed lower profits limit | £12,570 per year | £11,908 per year |
| Class 4 self-employed upper profits limit | £50,270 per year | £50,270 per year |
| Class 4 rate between lower profits limit and upper profits limit | 9% | 9.73% |
| Class 4 rate above upper profits limit | 2% | 2.73% |
