National Insurance Contributions
| Class 1 (not contracted out) | Employer | Employee |
| Lower earnings limit | £87 | |
| Payable on weekly earnings | ||
| £100.01 - £670 | 12.8% | 11% |
| Over £670 | 12.8% | 1% |
| Men 65 and over and women 60 and over |
as above | Nil |
| Employees' contracted-out rebate | 1.6% | |
| Married women's reduced rate between £100 and £670 | 4.85% | |
| Employers' contracted-out rebate, salary-related schemes | 3.7% | |
| Employers' contracted-out rebate, money purchase schemes | 1.4% | |
| Class 1A (on relevant benefits) | 12.8% | Nil |
| Class 1B (on PAYE settlement arrangement) | 12.8% | |
| Class 2 (Self employed) | £2.20 per week | |
| Class 2 contributions - share fishermen | £2.85 per week | |
| Class 2 contributions - volunteer development workers | £4.35 per week | |
| Limit of net earnings for exception | £4,635 per annum | |
| Class 3 (Voluntary) | £7.80 per week | |
| Class 4* (Self employed on profits) | ||
| £5,225 to £34,840 | 8% | |
| Excess over £34,840 | 1% | |
| *Exemption applies if state retirement age was reached by 6 April 2007. | ||
| Maximum contributions | ||
| Class 1 or Class 1 & 2 | £3,323.10 + 1% of earnings over £670 | |
| Class 4 limiting amount | £2,485.80 + 1% of profits over £34,840 a year | |
For those earning between £87 per week and £670 per week, employers receive a rebate of 1.4% on contracted out money purchase schemes or 3.7% on contracted out final salary schemes, and employees, a rebate of 1.6% for either scheme.
For children under 16, men over 65 and women over 60 there are no employee national insurance contributions payable, but employers' contributions remain payable.
Beechams LLP is registered in England No OC304423. A list of members is available at 3rd Floor, 167 Fleet Street, London EC4A 2EA.
Beechams LLP is a member of the UK 200 Group, an association of independent practising Chartered Accountants.
Registered to carry on audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.