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      • Technically National Insurance is a social security contribution rather than a tax, but really, it’s a compulsory payment taken from you by the Government, so, to all intents and purposes, it’s a tax.
      www.tax.org.uk/national-insurance-contributions-nics-an-explainer

      National Insurance Contributions (NICs) – an explainer

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  3. ifs.org.uk › taxlab › taxlab-taxes-explainedNational Insurance contributions explained | IFS Taxlab

    National Insurance contributions (NICs) are the UK’s second-biggest tax, expected to raise just under £170 billion in 2024–25 – around a sixth of all tax revenue.

  4. www.gov.uk › national-insuranceNational Insurance: introduction: Overview - GOV.UK

    • Who pays National Insurance
    • National Insurance classes
    • When you stop paying

    You pay mandatory National Insurance if you’re 16 or over and are either:

    •an employee earning more than £242 per week from one job

    •self-employed and making a profit of more than £12,570 a year

    You can also see rates and thresholds for previous tax years.

    You do not pay National Insurance, but still qualify for certain benefits and the State Pension, if you’re either:

    •an employee earning from £123 to £242 a week from one job

    See full list on gov.uk

    There are different types of National Insurance (known as ‘classes’).

    The type you pay depends on your employment status and how much you earn.

    See full list on gov.uk

    If you’re employed, you stop paying Class 1 National Insurance when you reach the State Pension age.

    If you’re self-employed you stop paying:

    •Class 2 National Insurance when you reach State Pension age

    •Class 4 National Insurance from 6 April (start of the tax year) after you reach State Pension age

    See full list on gov.uk

  5. www.moneyhelper.org.uk › en › workHow does National Insurance work? | MoneyHelper

    National Insurance is a tax on earnings and self-employed profits. You normally start paying when you turn 16 and earn over a certain amount. Your National Insurance contributions (NICs) decide: if you qualify for certain benefits, like: State Pension Maternity Allowance, and; Jobseeker’s Allowance.

  6. www.tax.org.uk › national-insurance-contributionsNational Insurance Contributions (NICs) – an explainer

    National Insurance is a tax on earnings paid by both employees (from their wages) and by employers (on top of the wages they pay out), as well as by the self-employed (from their trading profits).

  7. www.gov.uk › national-insurance › what-nationalNational Insurance: introduction - GOV.UK

    National Insurance - your National Insurance number, how much you pay, National Insurance rates and classes, check your contributions record.

  8. www.gov.uk › national-insurance › how-much-you-payNational Insurance: introduction: How much you pay - GOV.UK

    How to pay. You pay National Insurance with your tax. Your employer will take it from your wages before you get paid. Your payslip will show your contributions. If you’re a director of a...

  9. www.which.co.uk › money › taxNational Insurance - Which?

    Apr 6, 2024 · National Insurance (NI) is a state tax on your earnings. Find out how it works, how much you'll pay and what you're entitled to when you make NI contributions.