|
National Insurance
|
2007/08
National Insurance Contributions (NICs) |
| |
Employer |
Employee |
|
Class
1 - not contracted out |
|
Lower
earnings limit |
|
£87 |
|
Weekly earnings bands |
|
Up to £100 |
Nil |
Nil |
|
£100.01 – £670 |
12.8% |
11% |
|
Over £670 |
12.8% |
1% |
|
Over state retirement age
|
as above |
Nil |
|
Class 1A |
On relevant benefits |
12.8% |
Nil |
|
Class
2 |
Self employed |
£2.20 per
week |
|
Limit of net earnings for exception |
£4,635 p.a. |
|
Class 3 |
Voluntary |
£7.80 per
week |
|
Class
4* |
Self employed on profits |
|
|
£5,225 - £34,840 |
8% |
|
Excess over £34,840 |
1% |
|
*Exemption applies if
state retirement age was reached by 6 April 2007 |
|
|
|
