National Insurance Contributions
| Class 1 Employed not contracted out of state second pension (S2P) | |
| 2014/15 | 2013/14 |
| Employee: | Employee: |
| No NICs where earnings are up to £153 pw | No NICs where earnings are up to £149 pw |
| 12% NICs on £153.01-£805 pw | 12% NICs on £149.01-£797 pw |
| 2% NICs over £805 pw | 2% NICs over £797 pw |
| Employer: | Employer: |
| No NICs on the first £153 pw | No NICs on the first £148 pw |
| 13.8% NICs over £153 pw | 13.8% NICs over £148 pw |
| Employment allowance per business | 2014/15 | 2013/14 |
| Offset against employer's Class 1 NICs | £2,000 | N/A |
| Earnings limit or threshold | 2014/15 | 2013/14 | ||||
| Weekly | Monthly | Annual |
Weekly |
Monthly |
Annual | |
| £ | £ | £ | £ | £ | £ | |
| Lower earnings limit | 111 | 481 | 5,772 | 109 | 473 | 5,668 |
| Secondary earnings threshold | 153 | 663 | 7,956 | 148 | 641 | 7,696 |
| Primary earnings threshold | 153 | 663 | 7,956 | 149 | 646 | 7,755 |
| Upper accrual point | 770 | 3,337 | 40,040 | 770 | 3,337 | 40,040 |
| Upper earnings limit | 805 | 3,489 | 41,865 | 797 | 3,454 | 41,450 |
| Contracted-out S2P rebate | 2014/15 | 2013/14 |
| Reduction on band earnings* | £111.01-£770 pw | £109.01-£770 pw |
| Employer rate reduction | 3.4% | 3.4% |
| Employee rate reduction | 1.4% | 1.4% |
| * Salary related scheme only. | ||
| Class 1A (employers) | 2014/15 | 2013/14 |
| On most taxable benefits provided to P11D employees and directors | 13.8% | 13.8% |
| Class 2 (self-employed) | 2014/15 | 2013/14 |
| Flat rate | £2.75 pw £143.00 pa |
£2.70 pw £140.40 pa |
| Small earnings exception | £5,885 pa | £5,725 pa |
| Class 4 (self-employed) | 2014/15 | 2013/14 |
| On profits | £7,956-£41,865 pa 9% |
£7,755-£41,450 pa 9% |
| Over £41,865 pa 2% |
Over £41,450 pa 2% |
|
| Class 3 (voluntary) | 2014/15 | 2013/14 |
| Flat rate | £13.90 pw £722.80 pa |
£13.55 pw £704.60 pa |
