We are delighted to announce that SBS Online has been projecting 2016/17 employer contributions for National Insurance correctly since February 2015.
The government has announced the new thresholds and they exactly match our 2016/17 NI Indicative table.
This means that if you created new budgets using this Indicative table to project the impact of the NI changes from April 2016, your salary forecasts have been wholly accurate!
The new thresholds are as follows:
|Weekly earnings||Annual earnings||NIC rate|
|≤ £156||≤ £8,112||0%|
|> £156||> £8,112||13.8%|
Please note: there is no rebate for employers and the rate is the same regardless of whether employees are opted in or out of the superannuation scheme.
The 2016/17 Indicative table has now been renamed in the software. If you are already using it in all of your budgets, you do not need to do anything.
If you need to apply it to one or all of your non-fixed budgets follow these simple instructions:
- Go to ‘Settings | Budgets’
- Edit a budget
- Scroll down to the ‘National Insurance tables’ section
- Click the ‘Add National Insurance table’ button
- Select the date 1st April 2016
- Choose the ‘2016/17’ table from the drop down list
- Scroll to the bottom of the page and click ‘Save changes’
- Repeat for all of your non-fixed budgets.
If you have any questions about National Insurance or anything else, please call our Service Desk on 0345 222 1551.