National Insurance Contributions |
| Class 1 Employees Not
Contracted-Out of State Second Pension |
| |
05-06 |
04-05 |
| |
Employee |
Employer |
Employee |
Employer |
| NIC rate |
11% |
12.8% |
11% |
12.8% |
| No NICs on
the first |
£94 pw |
£94 pw |
£91 pw |
£91 pw |
| NICs
charged up to |
£630
pw |
No Limit |
£610
pw |
No Limit |
| 1% NIC on earnings over |
£630 pw |
N/A |
£610 pw |
N/A |
| Certain
married women |
4.85% |
As Above |
4.85% |
As Above |
| |
| Contracted-out Rebate |
05-06 |
04-05 |
| Rebate
on |
£82.01 - £630 pw |
£79.01 - £610 pw |
| Salary-related scheme |
1.6% |
3.5% |
1.6% |
3.5% |
| Money-purchase scheme |
1.6% |
1.0% |
1.6% |
1.0% |
|
| |
| Limit or Threshold |
05-06 |
04-05 |
| Weekly |
Monthly |
Annual |
Weekly |
Monthly |
Annual |
| Lower
earnings limit |
£82 |
£356 |
£4,264 |
£79 |
£342 |
£4,108 |
| NICs
start |
£94 |
£408 |
£4,895 |
£91 |
£395 |
£4,745 |
| Upper
earnings limit |
£630 |
£2,730 |
£32,760 |
£610 |
£2,644 |
£31,720 |
|
| |
| Contracted-Out Rebate -
Personal Pensions 05-06 |
| Slice of
earnings pa |
£4,264-£12,100 |
£12,100-£27,800 |
£27,800-£32,760 |
| S2P pension
accrual |
40% |
10% |
20% |
| Rebate |
Double rate below* |
Half rate below* |
As rate below* |
| Age at 5 April 05 |
25 |
26 |
27 |
28 |
29 |
30 |
31 |
32 |
33 |
34 |
35 |
36 |
37 |
38 |
39 |
| Rebate %
for 20% accrual |
4.6 |
4.6 |
4.7 |
4.7 |
4.8 |
4.8 |
4.9 |
4.9 |
5.0 |
5.0 |
5.1 |
5.1 |
5.2 |
5.2 |
5.2 |
| Age at 5 April 05 |
40 |
41 |
42 |
43 |
44 |
45 |
46 |
47 |
48 |
49 |
50 |
51 |
52 |
53 |
54+ |
| Rebate %
for 20% accrual |
5.3 |
5.3 |
5.4 |
5.6 |
5.7 |
5.9 |
6.1 |
6.3 |
6.5 |
6.7 |
7.3 |
8.0 |
9.0 |
10.2 |
10.5 |
| *Plus
tax relief on employee's contributions: 0.45% |
|
| |
| Class 1A Employer
04-06 |
|
|
| On
car and fuel benefits and most other taxable benefits: 12.8% |
|
|
|
| Self-employed |
05-06 |
|
04-05 |
|
| Class 2 |
Flat rate |
£2.10 pw
£109.20 pa |
|
£2.05 pw
£106.60 pa |
|
| if earnings
over |
£4,345 pa
|
|
£4,215 pa
|
|
| Class 4 |
On
profits |
£4,895-£32,760 pa: 8% |
|
£4,745-£31,720 pa: 8% |
|
| |
Over
£32,760 pa: 1% |
|
Over
£31,720 pa: 1% |
|
| Voluntary |
|
|
|
|
|
| Class
3 |
Flat rate |
£7.35 pw
£382.20 pa |
|
£7.15 pw
£371.80 pa |
|
|
| |
| © Copyright March 2005, subject to Finance Act |
|
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