National Insurance explained by Video, how cool is that.   Are you looking for a simple explanation of National Insurance (NI)?  You have come to the right place

In this video, I am going to be talking about

  • National Insurance specifically, what it is
  • The rationale behind why you pay it
  • Also, I add some numbers on how much people are paying in NI contributions
  • The payers of NI
  • Finally, I will comment on the proposed increase in contributions that's going to kick in in April 2022.

So, if you're interested in National Insurance explained and finding out more then please watch this video right now! You won't regret it!  And don't forget to subscribe so that you can get all our latest videos as soon as they come out!

Thanks folks for watching National Insurance explained

National Insurance Rates

Below are the headline rates for NI, a summary shows you the big picture.  Click here to dive deeper, make your head spin with all the different rates, percentages, allowances.

 Self Employed
Main rate, followed by rate over threshold
Employees
Main rate, followed by rate over threshold
Employers
One main rate over threshold
NIC % rate 21-229%, then 2% over threshold level 12%, then 2% over threshold level 13.8%, no upper limit
Earnings threshold 21-22 and 22-23Rate 1 £9,568-£50,270Rate 1 £9,568-£50,270£8,840 +
NIC % rate 22-2310.25%, then 3.25% over threshold level 13.25%, then 3.25% over threshold level 15.05%, no upper limit

Conclusion

Moreover, Explaining National Insurance is part of my mission is to inform, inspire and educate you to get closer to your numbers.  Above all you can make more profit, save tax, save time, improve your well-being, financial understanding and your money mindset. How cool is that?

Get in touch with us to get support with your NI understanding and responsibilities.   Above all, we are here to make your life easier and stress free.

Contact us if you need help figuring out and sorting your financial planning, your tax , payroll and other accounting and business matters.  For more business and finance , news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.

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