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By Rick Vollmar
April 10—Changes to thresholds determining employer and employee liability under the National Insurance plan were released by Her Majesty's Revenue and Customs April 6.
Effective for the 2015/2016 tax year, the weekly compensation threshold for employee tax liability increases from 153 to 155 pounds ($225 to $228), for employers to 156 pounds ($229). The upper earnings limit—at which the employee tax rate drops to 2 percent—has been increased from 805 to 815 pounds ($1,183 to $1,197). The tax rates themselves are unchanged.
To contact the reporter on this story: Rick Vollmar at email@example.com
Additional information is available on the HMRC website at: https://www.gov.uk/government/publications/rates-and-allowances-national-insurance-contributions/rates-and-allowances-national-insurance-contributions.
For more information on British HR law and regulation, see the U.K. primer.
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