Will I get paid more in January due to changes in the National Insurance tax rate?

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Hey everyone,

Starting January 2024, there’s good news on the financial front! We’ll be seeing a slight bump in our salaries due to a reduction in the national insurance rate for earnings between £12,570 and £50,270, dropping from 12% to 10%.

Let’s break it down based on different salary levels:

  • £25,000 Earners: You can look forward to saving around £248.60 annually, which means an extra £20.72 in your monthly salary.

  • £35,000 Earners: Expect annual savings of £448.60, adding up to an extra £37.38 in your monthly paycheck.

  • £45,000 Earners: There’s potential for annual savings of £648.60, providing an extra £54.05 in your monthly salary.

We’d love to hear your thoughts on these changes. Do they feel like a positive impact to you? Share your thoughts!

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