2024 Social Security Tax Limit Increase Uk. In 2023, you paid social security taxes on work income up to $160,200. (for 2023, the tax limit was $160,200.
The government puts a cap on the income subject to social security tax, and for 2024, it’s set at $168,600—an increase from $160,200 in 2023. The wage base or earnings limit for the 6.2% social security tax rises every year.