For 2022/23 the point at which the self-employed person starts to pay Class 2 NICs will increase to £11,908. This means those with profits between the Small Profits Threshold and the Lower Profits Limit will not pay Class 2 NICs, but will still be able to access entitlement to contributory benefits. The legislation to deal with the changes seeks to average their rates of NIC for the whole of 2022/23: it includes new NIC rates of 12.73% and 2.73% for payments to statutory directors for the whole of 2022/23 and 14.53% for employers. Income Tax Topical events Budget 2021 The government will maintain the income tax Personal Allowance and higher rate threshold and National Insurance contributions Upper Earnings Limit and What you should know about 2022-23 rates. There were a lot of National Insurance changes in 2022-23. In April 2022, Class 1 rates went up by 1.25 percentage points to 13.25% on earnings between £9,880 and £50,270, and 3.25% on earnings over £50,270. The National Insurance threshold rose on 6 July 2022, from £9,880 to £12,570. 20 December 2022. The Class 2 and 4 National Insurance rates have been updated for 2022 to 2023. 6 November 2022. The Class 1, 2 and 4 National Insurance rates have been updated for Tax rate. 2022/23. Tax rate. 2023/24. Tax rate. Up to £37,700. 7.5%. Up to £37,700. 8.75%. Up to £37,700. 8.75%. £37,701 - £150,000. 32.5%. £37,701 - £150,000. 33.75%. £37,701 - £125,140. 33.75%. Over £150,000. 38.1%. Over £150,000. 39.35%. Over £125,140. 39.35% National Insurance Self-employed National Insurance rates If you're self-employed and your profits are £12,570 or more a year, you usually pay Class 2 and Class 4 National Insurance rates. You For 2022 to 2023, the National Insurance contributions rates for directors are different. Read CA44 to find out more about rates for directors. 3. Class 2 and Class 4 National Insurance (self c0P55.