Page 30 - Budget Newsletter - March 2023
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Self-employed and non-employed 2022/23 2023/24
NICs
Class 2 NICs *
Flat rate £3.15 pw £3.45 pw
Small profits threshold £6,725 pa £6,725 pa
Class 4 NICs (Unless over State Pension Age on 6 April)
On profits £11,908 – £ 50,270 pa: £12,570 – £ 50,270 pa: 9%
9.73%**
Over £ 50,270 pa: 2%
Over £ 50,270 pa:
2.73%**
Class 3 NICs (Voluntary)
Flat rate £15.85 pw £17.45 pw
* From 6 April 2022, Class 2 NIC liabilities will be reduced to nil on profits between the small
profits threshold (£6,725 from 6 April 2022) and the lower profits limit.
** Self-employed people pay a blended rate of NIC in 2022/23 – taking account of the changes
in rates throughout the year.
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