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22 March 2006 Budget Report
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National Insurance Contributions
| 2006/07 National Insurance Contributions (NICs) |
| |
Employer |
Employee |
| Class 1 - not contracted out |
| Lower earnings limit |
|
£84 |
| Weekly earnings bands payable on earnings |
| Up to £97 |
Nil |
Nil |
| £97.01 - £645 |
12.8% |
11% |
| Over £645 |
12.8% |
1% |
| Men 65 and over and women 60 and over |
as above |
Nil |
| Class 1A |
On relevant benefits |
12.8% |
Nil |
| Class 2 |
Self employed |
£2.10 per week |
| Limit of net earnings for exception |
£4,465 p.a. |
| Class 3 |
Voluntary |
£7.55 per week |
| Class 4* |
Self employed on profits |
|
| £5,035 - £33,540 |
8% |
| Excess over £33,540 |
1% |
*Exemption applies if state retirement age was reached by 6 April 2006 |
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