budget report 2010

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National Insurance Contributions

Class 1 (Employees) Not Contracted out of State Second Pension S2P
2010/11 2009/10
Employee: Employee:

No NICs where earnings
are up to £110 a week
11% NICs on £110.01-£844 a week
1% NICs over £844 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 £110 a week
12.8% NICs over £110 a week

No NICs on the first £110 a week
12.8% NICs over £110 a week
   
Earnings limit or threshold 2010/11 2009/10
  Weekly Monthly Annual Weekly Monthly Annual
£ £ £ £ £ £
Lower limit (LEL) 97 421 5,044
 95 412 4,940
Earnings threshold
 110 476 5,715 110 476 5,715
Upper accrual point 770 3,337 40,040 770 3,337 40,040
Upper limit (UEL) 844 3,656 43,875 844 3,656 43,875
             
Contracted-out S2P rebate 2010/11 2009/10
Reduction on band earnings £97.01-£770 pw £95.01-£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) 2010/11
 2009/10
Most taxable employee benefits 12.8% 12.8%
     
Class 2 (Self-Employed) 2010/11 2009/10
Flat rate £2.40 pw
£124.80 pa		 £2.40 pw
£124.80 pa
Small earnings exception
 £5,075 pa £5,075 pa
     
Class 4 (Self-Employed) 2010/11 2009/10
On profits £5,715-£43,875 pa
8%		 £5,715-£43,875 pa
8%
  Over £43,875 pa
1%		 Over £43,875 pa
1%
     
Class 3 (Voluntary) 2010/11 2009/10
Flat rate £12.05 pw
 £626.60 pa
 £12.05 pw
£626.60 pa
 
Class 1A Employer 2008-10 on car and fuel benefits and most other taxable benefits: 12.8%
 
Limits and Thresholds 09-10 08-09
  Weekly Monthly Annual Weekly Monthly Annual
Lower earnings limit £95 £412 £4,940 £90 £390 £4,680
Earnings threshold £110 £476 £5,715 £105 £453 £5,435
Upper accrual point £770 £3,337 £40,040 N/A N/A N/A
Upper earnings limit £844 £3,656 £43,875 £770 £3,337 £40,040
 
Self-employed 09-10 08-09
Class 2 Flat rate £2.40 pw £124.80 pa £2.30 pw   £119.60 pa
Small earnings exception £5,075 pa £4,825 pa
Class 4*
 On profits £5,715 – £43,875 pa:  8% £5,435 - £40,040 pa: 8%
  Over £43,875 pa:       1% Over £40,040 pa: 1%

*Unless over state pension age on 6 April
 
Voluntary      
Class 3 Flat rate £12.05 pw £626.60 pa £8.10 pw £421.20 pa

Budget Summary

  1. Introduction
  2. Personal and trust taxation
  3. Capital taxes
  4. Business Tax
  5. Value Added Tax (VAT)
  6. Miscellaneous issues
  7. National Insurance Contributions

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

Pre-Budget 2009 Video

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Download our Summary of the 2010 Budget

We've summarised all of the key points of the budget in the following documents

Budget Summary Tax Facts