HMRC have now released the payroll thresholds for the new tax year.
The tax free allowance remains the same as 2021-22 but the NIC threshold before any national insurance contributions are deducted has increased slightly. However both employers and employees will be paying a higher rate of national insurance contribution as the 1.25% to cover the health and social care contribution will start in April 2022.
Minimum wage rates were advised earlier in the year with 21-22 year olds receiving the highest increase of 9.8%.
SSP increases by £3 per week and parental statutory payments increase by £4.69 per week.
Visit our website for all the new PAYE rates for 2022-23. You can also view the 2021-22 PAYE rates and thresholds here.
