Change to the national insurance threshold has been announced
The National Insurance Threshold is changing from £8632 to £9,500 typically saving an employee £104 annually the chancellor has announced.
Today the chancellor Rishi Sunak released his 2020 budget. As part of his key points he has announced that the national insurance threshold for employees is rising from £8632 to £9,500. This increase will save a typical employee around £104.00 a year.
This is good news as it means a typical employee will be allowed to earn an extra £868 per year before they have to pay national insurance contributions.