Budget 2004 Introduction Personal Income Tax Tax Credits National Insurance Contributions Employees Pensioners Savings Trusts Capital Gains Tax Inheritance Tax Stamp Duty / Stamp Duty Land Tax Corporation Tax Business Tax Value Added Tax Other Measures Tax Tables National Insurance

National Insurance

Table D Rates and limits for 2004/05
Class 1 Weekly Monthly Yearly Primary Threshold - employees £91 £395 £4,745 Upper Earnings Limit - employees £610 £2,643 £31,720 Secondary Threshold - employers £91 £395 £4,745
Employer's Contribution Contracted In Contracted Out     Salary Related Scheme Money Purchase Scheme On earnings up to threshold Nil Nil Nil On earnings between threshold and upper earnings limit 12.8% 9.3% 11.8% On earnings above upper earnings limit 12.8% 12.8% 12.8%
Employee's Contribution
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 £79 per week qualify for benefit, and must be reported under PAYE, but no NICs are payable until earnings exceed £91 per week. The reduced Class 1 contributions payable by certain married women and widows rises to 4.85% for earnings between £91 and £610 per week, 1% above £610 per week.
Class 2 (Self-employed)	Earnings over £4,215 per year	£2.05 per week
Class 3 (Voluntary)	No limit applicable	£7.15 per week
Class 4 (Self-employed)	Profits between £4,745 and £31,720	8%
	Profits above £31,720	1%