Bookkeeping Bites – The Health & Social Care Levy

It means a little shift ⏫⏫up for National Insurance contributions but a WHOLE LOAD of ❤️🧡 difference 🧡❤️ to Health and Social Care..
💥Here is how it will work 💥
⏰ From APRIL 2022 (this year folks, this year) ⏰
🤓National Insurance contributions for working age people will increase by ⬆️1.25%⬆️
🤓That extra 1.25% is the ⛑⛑ health and social care levy ⛑⛑
🤓All payslips should include the following message: “1.25% uplift in National Insurance contributions funds NHS, health and social care”
⏰ From APRIL 2023 ⏰
🤓The 1.25% levy will be 💥SEPARATED OUT 💥from the national insurance contributions
🤓It will also apply to the earnings of those working who are above state pension age
🤓National insurance will ⬇️drop ⬇️to the 2021/22 levels
To find out more, go to HMRC Big G’s update here
😍😍😍Stay safe everyone 💥💥💥