Government National Insurance changes
National Insurance increase reversed from 6 November 2022
The government has recently announced that the 1.25 percentage point increase to National Insurance (NI) which was introduced in April 2022 will be reversed from 6 November 2022. A welcome change after such a difficult year.
For employees who earn less that £1047.50 gross per month the move will make no difference as they do not pay NI.
- National insurance for employers has dropped from 15.05% to 13.80%
- National insurance for employees has dropped from 13.25% to 12.00%
What this means for you
This means that an employee on a gross pay agreement will receive more net pay, (more to the employee and less to HMRC). The employer will pay less NI too, so the overall costs have reduced.
Please make sure you check the payslip and pay the shown net amount.
Christmas pay cut offs
December payrolls are always run early which means if you have any changes or hours to report we will need them earlier than the normal deadline so please see below your December deadlines. As always, please send all changes to payroll@nannymatters.co.uk.
- If your usual deadline is 15th, you need to tell us about changes by 12th
- If your usual deadline is 23rd, you need to tell us about changes by the 19th
We will do our best to incorporate any changes received after these deadlines, but you may not receive the payslip before Christmas. You can pay your employee as soon as you receive the December payslip if you wish but do bear in mind that the earlier you pay in December, the longer the wait until January pay day! For that reason, some employees prefer to be paid at month end as normal so do check expectations.
We will be open throughout the holiday period operating normal office hours, except for the bank holidays when the office will be closed.
Warm and festive wishes to you and your family from the NannyMatters Team!
