National Insurance Contributions (NIC) 2020/2021
2020/2021
Class 1 Employed Contracted in Rates
| Employee | Employer | ||
|---|---|---|---|
| Earnings per week | % | Earning per week | % |
| Up to £183 | Nil* | Up to £169 | Nil* |
| £183.01-£932 | 12 | Over £169 | 13.8 |
| Over £932 | 2 |
| Class 1A Employers | 13.8% on employee taxable benefits |
|---|---|
| Class 1B Employers | 13.8% on PAYE Settlement Agreements |
| Class 2 self employed | £3.05 pw now collected through self-assessment |
| Class 3 voluntary | £15.30 pw |
| Class 4 self employed | 9% between £9500.01 and £50,000 profits and 2% on profits above £50,000 |
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 433111 or 0121 289 4433
