|
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 |
|
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