National Insurance calculator: See how much you will save after Budget tax cut

The Chancellor has confirmed workers across the UK will see another cut to national insurance.

During the Spring budget, Jeremy Hunt announced National Insurance will fall once again by 2p, dropping to 8 per cent from 10 per cent from April 6. Overall, this means an annual saving of almost £450 for someone on the UK’s average full-time salary of £34,963.

Mr Hunt highlighted in Parliament that the way people's income is taxed is "particularly unfair" as those who earn money from a job pay both national insurance and income tax. He claimed the new cuts would help people return to work

Read more: Spring Budget 2024 LIVE as Jeremy Hunt announces tax plans with National Insurance cut expected

To see how the National Insurance cut will affect your own wages, we've included a handy budget calculator below which will tell you how much you're contributing to National Insurance now, what you will contribute next year, and how much you'll save a year. All you need to do is simply type in your annual salary before taxes and hit 'calculate'.