In this video, we'll cover how to calculate your 2023-24 UK National Insurance (employed) payment in Excel. Paying National Insurance is based on a progressive system meaning that if have a higher income then you pay a higher rate. What we want to do in this video is create a calculator which allows you to input a taxable income figure and automatically retrieve your annual National Insurance payment. We’re going to start by calculating the inputs which will first involve setting up a calculation table. Following this, we'll perform intermediary calculations which we will use to calculate the annual National Insurance payment.
DISCLAIMER: Although I have taken great care to check all of the calculations, I am not a qualified accountant and you should not use this video to substitute financial advice. Make sure you talk to your own accountant before you use this calculator to make any financial decisions.
UK National Insurance rates and bands:
www.gov.uk/national-insurance...
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Overview: (0:00)
Calculation Table: (1:00)
Intermediary Calculations: (2:25)
Annual National Insurance Payment: (4:26)
4 авг 2024
