Social safety hike: what do the upcoming tax modifications imply for me? An professional explains

April 6 marks the beginning of the brand new tax yr 2022-23 and the day most employees begin paying a brand new tax: the well being and social help fee. For one yr solely, the speed will take the type of a 1.25 share level enhance in nationwide insurance coverage paid by workers, their employers and the self-employed. Thereafter, it’s going to present up on payroll as a separate tax.