Reminder - 2024 National Insurance contributions rate changes

At the Autumn Statement on 22 November 2023, the Government announced the National Insurance changes starting to take effect from January 2024. This was featured in the HMRC December Employer Bulletin.

HMRC is reminding employers of the main changes:

• A cut to the main rate of Class 1 employee National Insurance contributions from 12% to 10% from 6 January 2024
  
  
• A cut to the main rate of Class 4 self-employed National Insurance contributions from 9% to 8% from 6 April 2024
  
  
• Removal of liability to pay Class 2 self-employed National Insurance contributions from 6 April 2024
  
  
• The National Insurance contributions relief for employers who hire former members of the UK regular armed forces has been extended to the 2024/ 2025 tax year