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National Insurance
Table D
Rates and limits for 2003/04
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Class 1
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Weekly
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Monthly
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Yearly
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Primary Threshold - employees
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£89
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£385
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£4,615
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Upper Earnings Limit - employees
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£595
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£2,579
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£30,940
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Secondary Threshold - employers
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£89
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£385
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£4,615
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Employer's Contribution
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Contracted In
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Contracted Out
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Salary Related Scheme
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Money Purchase Scheme
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On earnings up to threshold
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Nil
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Nil
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Nil
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On earnings between threshold and upper earnings limit
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12.8%
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9.3%
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11.8%
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On earnings above upper earnings limit
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12.8%
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12.8%
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12.8%
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Employee's Contribution
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Contracted in: 11% on earnings between lower and upper
limits, 1% above upper limit.
Contracted Out: 9.4% on earnings between lower and upper
limits, 1% above upper limit.
Earnings over £77 pw qualify for benefit, and must be
reported under PAYE, but no NICs are payable until earnings
exceed £89 per week.
The reduced Class 1 contributions payable by certain married
women and widows rises to 4.85% for earnings between £89
and £595 per week, 1% above £595 pw.
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Class 2 (Self-employed)
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Earnings over £4,095 per year
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£2.00 per week
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Class 3 (Voluntary)
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No limit applicable
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£6.95 per week
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Class 4 (Self-employed)
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Profits between £4,615 and £30,940
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8%
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Profits above £30,940
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1%
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