Grove and King, Chartered Accountant, London UK

Budget 2009

Introduction

Personal Income Tax

Tax Credits

National Insurance Contributions

Employees

Savings & Investments

Capital Gains Tax

Stamp Duty Land Tax

Inheritance Tax

Corporation Tax

Business Tax

Value Added Tax

Other Measures

Tax Tables

National Insurance

National Insurance

Table D
Rates and limits for 2009/10

Class 1	Weekly	Monthly	Yearly
Primary Threshold - employees (PT)	£110	£476	£5,715
Upper Accrual Point (UAP)	£770	£3,337	£40,040
Upper Earnings Level - employees (UEL)	£844	£3,656	£43,875

Employer's Contribution	Contracted In	Contracted Out
		Salary Related Scheme	Money Purchase Scheme
On earnings up to PT	Nil	Nil	Nil
On earnings between PT and UAP	12.8%	9.1%	11.4%
On earnings above UAP	12.8%	12.8%	12.8%

Employee's Contribution

Contracted in: 11% on earnings between PT and UEL, 1% above UEL.
Contracted Out: 9.4% on earnings between PT and UAP; 11% from UAP to UEL; 1% above UEL.

Earnings over £95 per week qualify for benefit, and must be reported under PAYE, but no NICs are payable until earnings exceed £110 per week.

The reduced Class 1 rate payable by certain married women and widows is 4..85% for earnings between £110 and £770 per week, 1% above £770 per week.

Class 2 (Self-employed)	Earnings over £5,075 per year	£2.40 per week
Class 3 (Voluntary)	No limit applicable	£12.05 per week
Class 4 (Self-employed)	Profits between £5,715 and £43,875	8%
	Profits above £43,875	1%

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