Tel: 01634 309440
info@wasltd.co.uk
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National Insurance
| 2005/06 National Insurance Contributions (NICs) |
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Employer |
Employee |
| Class 1 - not contracted out |
| Weekly earnings bands payable on earnings |
| Up to £94 |
Nil |
Nil |
| £94.01 - £630 |
12.8% |
11% |
| Over £630 |
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 |
£2.10 per week |
| Limit of net earnings for exception |
£4,345 p.a. |
| Class 3 |
Voluntary |
£7.35 per week |
| Class 4* |
Self employed on profits |
|
| £4,895 - £32,760 |
8% |
| Excess over £32,760 |
1% |
*Exemption applies if state retirement age was reached by 6 April 2005 |
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