budget report 2011

Contact Us


« Back to Budget 2011

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:    
  • Salary-related scheme
3.7% 3.7%
  • Money-purchase scheme
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
£2.40 pw
£124.80 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

Budget Summary

  1. Capital taxes
  2. Charities
  3. Miscellaneous
  4. National insurance contributions
  5. Personal and trust taxation
  6. Value added tax (VAT)

Tax Tables

  1. Basic State Pension
  2. Capital Gains Tax
  3. Car Benefit For Employees
  4. Company Cars
  5. Corporation Tax
  6. Fuel Benefit
  7. Income Tax
  8. Individual Savings Accounts (ISAs)
  9. Inheritance Tax
  10. Main Capital and Other Allowances
  11. Main Due Dates for Tax Payment
  12. Main Personal Allowances and Reliefs
  13. National Insurance Contributions
  14. Registered Pensions
  15. Stamp Duties
  16. Tax-Free Mileage Allowance
  17. Value Added Tax