National Insurance Contributions
Class 1 |
Employer |
Employee |
(not contracted out) |
|
|
| |
|
|
payable on weekly earnings |
|
|
|
£89.01 - £585
|
11.8%
|
10% |
|
Over £585
|
11.8%
|
£49.60 max
|
| |
|
|
Men 65 and over and
women 60 and over |
as above |
Nil |
Class 1A on relevant benefits |
11.8%
|
Nil |
Class 2 Self employed |
£2.00 per week |
Limit of net earnings for exception |
£4,025.00 per annum
|
| |
|
Class 3 Voluntary |
£6.85 per week
|
| |
|
Class 4* Self employed on profits |
7% |
|
£4,615 to £30,420
|
£1,806.35 maximum
|
*Exemption applies if state retirement age was reached
by 6 April 2002.
Note
For those earning between £75 per week and £585
per week, employers receive a rebate on the above rates of
1.0% on contracted out money purchase schemes or 3.5% on contracted
out final salary schemes, and employees, a rebate of 1.6%.
Did you know?
That the Treasury this year expects their national insurance revenues to be in the region of £60 billion.
|
