National Insurance rates 2020/21
Posted 5th March 2020
This blog refers to SBS Budgets, our budget management software accessed anywhere via SBS Online.
For the full details please visit the .gov website.
The National Insurance rates for 2020/21 have now been released by the HMRC.As in previous years, the employer contribution rate of 13.8% has remained the same. The thresholds have increased slightly, meaning the new National Insurance table looks like this:
|Age bracket||Weekly Earning (£)||Yearly Earnings (£)||Rate (%)|
|21 or over||⩽169||⩽8788||0|
SBS CustomersThis table is now available on SBS Budgets. Instructions on how to apply this to your budget can be found on the dashboard. Please note: SBS Budgets caters for NI calculations across employees who are under 21. It also accurately calculates NI contributions where an employee holds multiple contracts. If you have any questions, please contact the service desk on 0345 222 1551 • Option 8, or email firstname.lastname@example.org.
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