Yes, there have been changes to National Insurance for the 2024/25 tax year:
Employees: The main rate of NI for employees has been reduced from 10% to 8%.
Self-employed:
Class 4 NI contributions have been reduced from 9% to 8%.
Class 2 NI contributions have been abolished.
Important Notes:
These changes affect earnings within specific thresholds. You can find the latest NI thresholds and rates on the official government website: https://www.gov.uk/national-insurance-rates-letters
National Insurance is a complex topic. If you'd like personalised advice on how these changes impact you, it's advisable to consult with Accountants Chester.
Self-Employed Accountants Chester