| Class 1 (Employees) Not Contracted out of State Second Pension S2P | |
| 2010/11 | 2009/10 |
| Employee: | Employee: |
|
No NICs where earnings |
No NICs where earnings are up to £110 a week 11% NICs on £110.01-£844 a week 1% NICs over £844 a week |
| Employer: | Employer: |
|
No NICs on the first £110 a week |
No NICs on the first £110 a week 12.8% NICs over £110 a week |
| Earnings limit or threshold | 2010/11 | 2009/10 | ||||
| Weekly | Monthly | Annual | Weekly | Monthly | Annual | |
| £ | £ | £ | £ | £ | £ | |
| Lower limit (LEL) | 97 | 421 | 5,044 |
95 | 412 | 4,940 |
| Earnings threshold |
110 | 476 | 5,715 | 110 | 476 | 5,715 |
| Upper accrual point | 770 | 3,337 | 40,040 | 770 | 3,337 | 40,040 |
| Upper limit (UEL) | 844 | 3,656 | 43,875 | 844 | 3,656 | 43,875 |
| Contracted-out S2P rebate | 2010/11 | 2009/10 | |
| Reduction on band earnings | £97.01-£770 pw | £95.01-£770 pw | |
| Employer rate reduction: | |||
|
3.7% | 3.7% | |
|
1.4% | 1.4% | |
| Employee rate reduction | 1.6% |
1.6% |
|
| Class 1A (Employers) | 2010/11 |
2009/10 | |
| Most taxable employee benefits | 12.8% | 12.8% | |
| Class 2 (Self-Employed) | 2010/11 | 2009/10 | |
| Flat rate | £2.40 pw £124.80 pa |
|
|
| Small earnings exception |
£5,075 pa | £5,075 pa | |
| Class 4 (Self-Employed) | 2010/11 | 2009/10 | |
| On profits | £5,715-£43,875 pa 8% |
£5,715-£43,875 pa 8% |
|
| Over £43,875 pa 1% |
Over £43,875 pa 1% |
||
| Class 3 (Voluntary) | 2010/11 | 2009/10 | |
| Flat rate | £12.05 pw £626.60 pa |
£12.05 pw £626.60 pa |
© 22 June 2010. This summary has been prepared very rapidly and is for general information only. The proposals are in any event subject to amendment before the Finance Act is passed. It is recommended you seek competent professional advice before taking any action on the basis of the contents of this publication.Last Updated
