Health And Social Care Levy Update
Have you budgeted for the increase to National Insurance contributions which will take effect from 6 April 2022?
Increases to National Insurance contributions will start to take effect from 6 April 2022. HMRC provides information on preparing for the changes here. Charities will be impacted like any other employer.
To help raise an extra £12bn a year for health and social care following the pandemic, all rates of national insurance contributions and income tax on dividends will increase by 1.25 percentage points. The transitional increase to the main and additional rates of National Insurance contributions will take effect from 6 April 2022 and will last for the 2022 to 2023 tax year only. The new Health and Social Care Levy will take effect from 6 April 2023.
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