Monday 19 April 2010

National Insurance minefield

And heres how to work out your NI contributions...good luck...

National Insurance contributions

 £ per week (unless stated) 2009-10 Change  2010-11
Lower earnings limit (primary Class 1) £95   +£2 £97
Upper earnings limit (primary Class 1) £844  - £844
Upper accruals point £770 £770
Primary threshold £110 - £110
Secondary threshold £110 - £110
Employees’ primary Class 1 rate between primary threshold and upper earnings limit 11% - 11%
Employees’ primary Class 1 rate above upper earnings limit 1% - 1%
Employees’ contracted-out rebate - salary-related schemes 1.6% - 1.6%
Employees’ contracted-out rebate - money-purchase schemes 1.6% - 1.6%
Married women’s reduced rate between primary threshold and upper earnings limit 4.85% - 4.85%
Married women’s rate above upper earnings limit 1% - 1%
Employers’ secondary Class 1 rate above secondary threshold 12.8% - 12.8%
Employers’ contracted-out rebate, salary-related schemes 3.7% - 3.7%
Employers’ contracted-out rebate, money-purchase schemes 1.4% - 1.4%
Class 2 rate £2.40 - £2.40
Class 2 small earnings exception (per year) £5,075 - £5,075
Special Class 2 rate for share fishermen £3.05 - £3.05
Special Class 2 rate for volunteer development workers £4.75 +£0.10 £4.85
Class 3 rate (per week) £12.05 - £12.05
Class 4 lower profits limit (per year) £5,715 - £5,715
Class 4 upper profits limit (per year) £43,875 - £43,875
Class 4 rate between lower profits limit and upper profits limit 8%  - 8%
Class 4 rate above upper profits limit  1%   -  1% 

No comments: