Young & Co.

CHARTERED ACCOUNTANTS AND REGISTERED AUDITORS

 

 

National Insurance Information

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National Insurance contributions are deducted from your salary or paid from your self employed income.  Non payment of National Insurance may adversely affect your State Pension when you retire.

 
         

Class 1 - Employees

Collected though Pay As You Earn via employed income.  This is paid by the employee.

Up to £105.00 per week

0%

 

 

  
    £105.01 to £770.00 per week 11%  
    Over £770.00 per week 1%  
         
         

Class 1 - Employers

Collected though Pay As You Earn via employed income.

This is paid by the employer only.

Up to £105.00 per week

0%

  
    £105.01 to £770.00 per week 12.8%  
    Over £770.00 per week 12.8%  
         
         

Class 1A & Class 1B

Charge based on "benefits" received through employment (eg company car, private medical scheme etc.)

12.8%

 

  
         

Class 2

Charged to self employed people

£2.30 per week

 

  
         

Class 3

Voluntary contributions

£8.10 per week

 

  
         

Class 4

Self employment charge based on profits of your business

£0 to £5,435 taxable profits

0%

  
    £5,225 to £40,040 8%  
    £40,041 and above 1%  
 

More information is available from the Revenue web site

 

All figures quoted are based on the 2008/2009 tax year