National Insurance - Budget Report 2004

National Insurance

2004/2005 National Insurance Contributions (NICs)
		Employer	Employee
Class 1 - not contracted out
Weekly earnings bands payable on earnings
Up to £91		Nil	Nil
£91.01 - £610		12.8%	11%
Over £610		12.8%	1%
Men 65 and over and women 60 and over		as above	Nil
Class 1A	On relevant benefits	12.8%	Nil
Class 2	Self employed	£2.05 per week
	Limit of net earnings for exception	£4,215 pa
Class 3	Voluntary	£7.15 per week
Class 4*	Self employed on profits
	£4,745 - £31,720	8%
	Excess over £31,720	1%
*Exemption applies if state retirement age was reached by 6 April 2004