A change in National Insurance could mean an unexpected pay rise!

A change in National Insurance could mean an unexpected pay rise!

We’ve got some news that’ll make your day. Those of you who pay close attention to your wage slips, may notice an increase in take home pay next month.

Why? You ask. And we’re glad you did. From July 6th, the threshold for when you start to pay NI will rise, bringing millions of workers an unexpected pay rise.

The past few years have been turbulent to say the least, and we imagine you’ve been working tirelessly, be that at home with your slippers on or in the office under a face mask.

This increase couldn’t have come at a better time with the cost of living quickly on the rise. We’ve brought you everything we know about this change, plus a handy tool that ensures you’re getting paid fairly.

What is National Insurance?

For those of you who have just left education, are entering your first job or have simply accepted NI as the norm, you may not be totally clued up on what National Insurance actually is. Believe us, you’re not alone. National Insurance is a tax on earnings, paid by employed and self-employed individuals.

If you’ve turned 16 and got yourself a cracking job, with a wage above £190 a week, or you’re self-employed and are raking in profits of £6,725 or more a year, NI is mandatory. The amount you pay will vary and is dependent on your gross earnings, before tax or your pension deductions, above certain thresholds.

The threshold for when you start to pay NI is currently at £9,880. From 6th July, this will rise to £12,570, meaning many low-income workers may not pay any NI at all.

Value your vacancy.

While this change will make a lot of people happy, we want to ensure that you’re being paid fairly. For some people, discussions around salary come easy. For others, it’s that awkward subject that they avoid like the plague. Whether you’re currently employed or actively searching for a new role, salary is bound to come up. It’s worth being clued up on what you’re looking for and we’ve got a perfect place for you to start.

At Glu Recruit, we’ve devised a handy tool called Value Your Vacancy. By compiling a range of job roles and salaries, based on research within businesses in the Sheffield City Region, you’ll be able to enter your details and discover what other people in similar job roles are earning. This is a great tool for employers too. If you’re in the process of creating an epic job advert for your business, it’s useful to research around and discover what salaries other businesses are offering – so you can be sure you’re attracting top talent.

Here to lend a helping hand.

At Glu Recruit, we want to support you in any way we can. Whether you’ve got burning questions around salary and expectations or something else entirely, we’re here to lend an ear.

Simply give us a call on 01143211873 or drop us an email at eyup@glurecruit.co.uk

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