National Insurance Contributions
| Class 1 (Employees) Not Contracted out of State Second Pension S2P |
| 2011/12 |
2010/11 |
| Employee: |
Employee: |
|
No NICs where earnings
are up to £139 a week
12% NICs on £139.01-£817 a week
2% NICs over £817 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 £136 a week
13.8% NICs over £136 a week
|
No NICs on the first £110 a week
12.8% NICs over £110 a week |
| |
|
| Earnings limit or threshold |
2011/12 |
2010/11 |
| |
Weekly |
Monthly |
Annual |
Weekly |
Monthly |
Annual |
| £ |
£ |
£ |
£ |
£ |
£ |
| Lower limit (LEL) |
102 |
421 |
5,044
|
97 |
421 |
5,044 |
Primary earnings threshold
|
139 |
602 |
7,225 |
110 |
476 |
5,715 |
| Secondary earnings threshold |
136 |
589 |
7,072 |
110 |
476 |
5,715 |
| Upper accrual point |
770 |
3,337 |
40,040 |
770 |
3,337 |
40,040 |
| Upper limit (UEL) |
817 |
3,540 |
42,475 |
844 |
3,656 |
43,875 |
| |
|
|
|
|
|
|
| Contracted-out S2P rebate |
2011/12 |
2010/11 |
| Reduction on band earnings |
£102.01-£770 pw |
£97.01-£770 pw |
| Employer rate reduction: |
|
|
|
|
3.7% |
3.7% |
|
|
1.4% |
1.4% |
| Employee rate reduction |
1.6%
|
1.6%
|
| |
|
|
| Class 1A (Employers) |
2011/12
|
2010/11 |
| Most taxable employee benefits |
13.8% |
12.8% |
| |
|
|
| Class 2 (Self-Employed) |
2011/12 |
2010/11 |
| Flat rate |
£2.50 pw
£130.00 pa |
|
Small earnings exception
|
£5,315 pa |
£5,075 pa |
| |
|
|
| Class 4 (Self-Employed) |
2011/12 |
2010/11 |
| On profits |
£7,225-£42,475 pa
9% |
£5,715-£43,875 pa
8% |
| |
Over £42,475 pa
2% |
Over £43,875 pa
1% |
| |
|
|
| Class 3 (Voluntary) |
2011/12 |
2010/11 |
| Flat rate |
£12.60 pw
£655.20 pa |
£12.05 pw
£626.60 pa |
|
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Chancellor's Spring 2011 Budget Summary |
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