National Insurance threshold has increased – simple way to check if you're better off

However, these figures are just estimates, and the true amount of money saved will be visible on payslips.

The former Chancellor said seven out of 10 people will be paying less for National Insurance from July even with the 1.25 percentage point increase to the contributions.

Those who are self-employed pay National Insurance differently, as they are responsible for working out how much they owe which will either be Class 2 National Insurance or Class 4 National Insurance.

The tool will not work for those who are not liable to pay the main rate of Class 1 contributions on earnings or profits.