Finances can feel a bit tight for us all in January. With that in mind, Shared Services pulled out all the stops to ensure the local government pay award was reflected in your December pay, and have now ensured that the National Insurance reductions are reflected in your payslip, in the fastest possible time, following a recent government decision to reduce NI contributions.
In November, the Government introduced a measure to reduce the main rate of employee Class 1 National Insurance contributions by 2 percentage points from 12% to 10% from 6 January 2024.
Shared Services has responded extremely quickly to this governmental change. As a result, staff will see the reduction in NI reflected in their January payslip, and every month thereafter.
More detailed information about these national changes can be found on gov.uk:
A reduction in the main rates of Primary Class 1 and Class 4 National Insurance contributions and the removal of the requirement to pay Class 2 National Insurance contributions - GOV.UK (www.gov.uk)