National Insurance Contributions (NIC) 2015/2016
Class 1 Employed Contracted in Rates
|Earnings per week||%||Earning per week||%|
|Up to £155||Nil*||Up to £156||Nil*|
*Entitlement to contribution-based benefits retained for earnings between £112 and £155 per week.
|Class 1A Employers||13.8% on employee taxable benefits|
|Class 1B Employers||13.8% on PAYE Settlement Agreements|
|Class 2 self employed||£2.80 pw if earning over £5965 pa|
|Class 3 voluntary||£14.10 pw|
|Class 4 self employed||9% profits between £8,060 and £42,385 and 2% profits aboe £42,385|
NIC Class 2 Registration – Within 3 months from self employment start.
If you have any questions or would like further information please call on 01527 68235