Last year, in the government's 2023 Autumn Statement, an announcement was made to reduce the main rate of National Insurance for employees and the self-employed.
From 6 January 2024 the main rate of employee National Insurance (Class 1 NICS) reduced from 12% to 10%, reducing the amount of National Insurance colleagues pay each month.
The below table shows how this will impact your monthly national insurance contributions (NICs) from your January 2024 pay, onwards:
Grade
And Scale point | Annual Salary
(FTE*) | Monthly Gross Salary | Monthly Employee National Insurance Contributions
Pre-January 2024 | Monthly Employee National Insurance Contributions
From 6 January 2024 | Reduction of Employee NICs per month |
| Grade 2- P09 | £21,840.00 | £1,820.00 | £92.64 | £77.20 | £15.44 |
| Grade 3 - P15 | £24,533.00 | £2,044.42 | £119.57 | £99.64 | £19.93 |
| Grade 4 - P22 | £29,605.00 | £2,467.08 | £170.29 | £141.91 | £28.38 |
| Grade 5 – P29 | £36,024.00 | £3,002.00 | £234.48 | £195.40 | £39.08 |
| Grade 6 – P36 | £44,263.00 | £3,688.58 | £316.87 | £264.06 | £52.81 |
| Grade 7 – P44 | £56,021.00 | £4,668.42 | £386.51 | £323.69 | £62.82 |
*Full Time Equivalent
For more information on the updated national insurance rates and the 2023 Autumn statement please visit the HMRC website.
To see how this will impact your individual pay, you can use the HMRC Calculator, along with your NI-able pay.
You can also access all the details on your interactive payslips on HR Connect ahead of payday each month.
Any queries regarding the changes please contact the payroll team: payroll@napier.ac.uk