Martin Lewis to the rescue, again 🦸♂️ The money saving expert has issued helpful advice on how we can expect a boost from our pay checks this month 💰
The money saving expert has issued advice as the cost of living crisis continues to grip the nation His advice follows a year of back-and-forth Government changes for National Insurance rates.Millions are now set for a financial boost from pay checks in coming months – if you earn more than £12, 570.
Mr Lewis said: ‘Expect more in your take-home pay this month. Most National Insurance rates dropped to 12% .’If you earn £12,570 – £0 gain per yearIf you earn £40,000 – £343 gain per yearto how much National Insurance people pay,Around 28million people across the UK will now keep an extra £330 a year on average in the 2023/24 tax year as a result of the change.
The Government also claims that the majority of businesses will also see a reduction in their NI bills – and save an average of £9,600 each in 2023-24.
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