From 6th April 2022 a temporary National Insurance increase of 1.25% was introduced. This was set to be replaced by a 1.25% Health and Social Care Levy tax in April 2023. The temporary increase has now been removed effective 6th November and the planned Health and Social Care Levy has been cancelled. The cost to employers will revert from 15.05% back to 13.8% of NI’able pay over and above the relevant National Insurance thresholds.
The above video explains how you can calculate this change and IMP’s approach to understanding this impact across your school network.
If you’re interested in learning more about IMP Planner and how our MAT-first approach to budgeting can drive more efficiencies in your trust, book onto our next webinar here.
