2024 Social Security Tax Limit Cap Uk. The tax treatment of social security benefits is legislated for in income tax legislation. For the 2024/25 tax year, employees pay class 1 nics at 8% on earnings between gbp 12,571 and gbp 50,270.
For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023). Section 2 (2) of the social security act 1993 (payments into national insurance fund out of money provided by parliament) has effect with respect to the tax.
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