| National Insurance | 2007/08 National Insurance Contributions (NICs) | | | Employer | Employee | | Class 1 - not contracted out | | Lower earnings limit | | £87 | | Weekly earnings bands | | Up to £100 | Nil | Nil | | £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 2 | Self employed | £2.20 per week | | Limit of net earnings for exception | £4,635 p.a. | | Class 3 | Voluntary | £7.80 per week | | Class 4* | Self employed on profits | | | £5,225 - £34,840 | 8% | | Excess over £34,840 | 1% | | *Exemption applies if state retirement age was reached by 6 April 2007 |
|
|
|
