|
Rates & Allowances - 2007 / 2008
National Insurance Contributions
|
Class
1 (not contracted out) |
Employer |
Employee |
|
Lower
earnings limit |
|
£87 |
|
Payable
on weekly earnings |
|
|
|
£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
1B (on PAYE settlement arrangement) |
12.8% |
|
|
|
|
|
Class
2 (Self employed) |
£2.20
per week |
|
Limit
of net earnings for exception |
£4,635
per annum |
|
|
|
|
Class
3 (Voluntary) |
£7.80
per week |
|
|
|
|
Class
4 (* Self employed on profits) |
|
|
£5,225
to £34,840 |
8% |
|
Excess
over £34,840 |
1% |
|
*Exemption
applies if state retirement age was reached by 6 April 2007. |
|
Notes
For those earning between £87 per week and £670 per week, employers receive a rebate of 1.4%
on contracted out money purchase schemes or 3.7% on contracted out final salary schemes, and employees, a rebate of 1.6% for
either scheme.
 |
|