Independent financial advice throughout the UK
  Thursday, September 09, 2010 library  Time now: 10:09

document centre
calculators
tax tables
qlossary
overview of services
our awards
contact us
tell a friend

email us email us

quick search
Award winning independent financial advice from online ifa's

Request us to call you back


National Insurance Contributions

Class 1 (Employees) Not Contracted out of State Second Pension S2P
2010/11 2009/10
Employee: Employee:

No NICs where earnings
are up to £110 a week
11% NICs on £110.01-£844 a week
1% NICs over £844 a week

No NICs where earnings
are up to £110 a week
11% NICs on £110.01-£844 a week
1% NICs over £844 a week
Employer: Employer:

No NICs on the first £110 a week
12.8% NICs over £110 a week

No NICs on the first £110 a week
12.8% NICs over £110 a week
   
Earnings limit or threshold 2010/11 2009/10
  Weekly Monthly Annual Weekly Monthly Annual
£ £ £ £ £ £
Lower limit (LEL) 97 421 5,044
95 412 4,940
Earnings threshold
110 476 5,715 110 476 5,715
Upper accrual point 770 3,337 40,040 770 3,337 40,040
Upper limit (UEL) 844 3,656 43,875 844 3,656 43,875
             
Contracted-out S2P rebate 2010/11 2009/10
Reduction on band earnings £97.01-£770 pw £95.01-£770 pw
Employer rate reduction:    
  • Salary-related scheme
3.7% 3.7%
  • Money-purchase scheme
1.4% 1.4%
Employee rate reduction 1.6%
1.6%
     
Class 1A (Employers) 2010/11
2009/10
Most taxable employee benefits 12.8% 12.8%
     
Class 2 (Self-Employed) 2010/11 2009/10
Flat rate £2.40 pw
£124.80 pa
£2.40 pw
£124.80 pa
Small earnings exception
£5,075 pa £5,075 pa
     
Class 4 (Self-Employed) 2010/11 2009/10
On profits £5,715-£43,875 pa
8%
£5,715-£43,875 pa
8%
  Over £43,875 pa
1%
Over £43,875 pa
1%
     
Class 3 (Voluntary) 2010/11 2009/10
Flat rate £12.05 pw
£626.60 pa
£12.05 pw
£626.60 pa
 
Class 1A Employer 2008-10 on car and fuel benefits and most other taxable benefits: 12.8%
 
Limits and Thresholds 09-10 08-09
  Weekly Monthly Annual Weekly Monthly Annual
Lower earnings limit £95 £412 £4,940 £90 £390 £4,680
Earnings threshold £110 £476 £5,715 £105 £453 £5,435
Upper accrual point £770 £3,337 £40,040 N/A N/A N/A
Upper earnings limit £844 £3,656 £43,875 £770 £3,337 £40,040
 
Self-employed 09-10 08-09
Class 2 Flat rate £2.40 pw £124.80 pa £2.30 pw   £119.60 pa
Small earnings exception £5,075 pa £4,825 pa
Class 4*
On profits £5,715 – £43,875 pa: 8% £5,435 - £40,040 pa: 8%
  Over £43,875 pa:       1% Over £40,040 pa: 1%

*Unless over state pension age on 6 April

 
Voluntary      
Class 3 Flat rate £12.05 pw £626.60 pa £8.10 pw £421.20 pa




Useful Links

Inland Revenue

DSS

The pension Service

Your home may be repossessed if you do not keep up the repayments on your mortgage or any other debt secured on it.
To understand the features and risks of lifetime mortgages and home reversion plans ask us for a personalised illustration.
a screen business site
© 2010 My Personal Finances Limited,
All rights reserved
My Personal Finances Limited is an appointed representative of Accord Consultancy Limited which is authorised and regulated by the Financial Services Authority.