Budget 2007

Introduction

Personal Income Tax

National Insurance Contributions

Employees

Savings & Investments

Trusts

Capital Gains Tax

Stamp Duty Land Tax

Inheritance Tax

Corporation Tax

Business Tax

Value Added Tax

Other Measures

Tax Tables

National Insurance


National Insurance Contributions

Rates and limits (Table D)

The percentage rates of NIC paid by individuals remain unchanged. There are small decreases in the rates paid by employers who offer their employees a contracted-out pension scheme.

The bands at which the rates change (the Primary Threshold and Upper Earnings Limit) increase this year in line with inflation. In April 2008 there will be a substantial increase in the UEL and from April 2009 it will be aligned with the 40% threshold for income tax. This represents a tax increase because more earnings will be charged to NIC at the higher rates (9.4% or 11% for employees, 8% for self-employed) and less at 1%.


Website designed by
flamenewmedia.com

budget 2014 | budget 2013 | budget 2012 | budget 2011 |
budget 2009| budget 2008 | budget 2007 | budget 2006 | budget 2005 | budget 2004 |
budget 2003 | accountants | about us | services | testimonials | links | map | contact us |
Regulated by the Association of Chartered Certified Accountants