Release notes - 23.90

Legislation

On 22nd November 2023, the Government announced that from 6th January 2024, the National Insurance contribution rates for most employees would be lowered by 2%.

We have updated the software to reflect these changes in employee NI rates.

Director’s NI contribution rates will differ from employees’ NI rates and will use an average rate from 6th January 2024.

From 6th January 2024, there will be two sets of National Insurance rates for employees for the 2023/2024 tax year:

• Those used for pay periods between 6th April 2023 and 5th January 2024

  and;

• Those in use between 6th January 2024 and 5th April 2024.

This split set of rates applies to the tax year 2023/2024 only.

Refer to the IRIS Payroll Help Hub for information on the new NI figures.