National Insurance rise: tax calculator shows how much MORE you’ll pay this April

NATIONAL Insurance rates rise today and it means millions of people are now expected to pay more tax.

The rise was first announced last year and is designed to help cover the costs of social care.

Unfortunately for tax payers, the increase comes just as living costs have taken a massive hit on Brits' wallets.

Energy bills have just gone up by almost £700 and households have been struck with increased broadband bills, water bills, and more, at home.

Plus the cost of shopping for groceries has increased too.

And now the National Insurance tax rise could squeeze already hard-up households further.

National Insurance rates are different depending on how much you earn.

You pay National Insurance when you're employed and earning more than £9,568 a year, or £184 per week.

Self-employed people earning more than £6,515 also pay national insurance contributions.

But as announced in the Spring Statement, the threshold for when you start paying National Insurance will be increased by £3,000, to £12,570, but not until July 6.

The hike though, will hit the finances of around 25million Brits, who will have to pay 1.25 percentage points extra.

This means rates rise from 12% on earnings between £184 to £967 a week to 13.5%.

The rate on earnings over this amount will also rise from 2% to 3.25%.

As the rates are a percentage of your earnings the exact amount more you'll pay in cash terms will depend on your circumstances.