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National Insurance Calculator: See how you will be affected by the rise cancellation | Business news

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 National Insurance Calculator: See how you will be affected by the rise cancellation |  Business news

Chancellor Kwasi Kwarteng has announced that the April increase in national insurance is to be reversed from 6 November.

The 1.25 percentage point increase was introduced under former chancellor Risha Sunak, but during the Tory leadership race Liz Truss promised to reverse it.

Use our calculator below to see how the changes will affect you:

The Treasury said most employees will receive a cut in their National Insurance contributions directly through their employer’s paycheck in November, although some may be delayed until December or January.

It has been estimated that almost 28 million people will save an extra £330 on average next year and 920,000 businesses will save an average of almost £10,000 next year thanks to the change.

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