we have developed our partnership to meet the needs of businesses in one of the largest regions of growth in the UK
BUDGET March 2008
National Insurance Contributions (NICs)
| 2008/09 National Insurance Contributions (NICs) |
| |
Employer |
Employee |
| Class 1 - not contracted out |
| Lower earnings limit |
|
£90 |
| Weekly earnings bands |
| Up to £105 |
Nil |
Nil |
| £105.01 – £770 |
12.8% |
11% |
| Over £770 |
12.8% |
1% |
| Over state retirement age |
12.8% |
Nil |
| Class 1A |
On relevant benefits |
12.8% |
Nil |
| Class 2 |
Self employed |
£2.30 per week |
| Limit of net earnings for exception |
£4,825 p.a. |
| Class 3 |
Voluntary |
£8.10 per week |
| Class 4* |
Self employed on profits |
|
| £5,435 - £40,040 |
8% |
| Excess over £40,040 |
1% |
| *Exemption applies if state retirement age was reached by 6 April 2008 |
|
Contemporary Practice ... Established Values
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