|
National Insurance Rates
| 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 |
&pund;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 | | |
 |
Practical advice for business
