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22 March 2006 Budget Report

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National Insurance Contributions

2006/07 National Insurance Contributions (NICs)
  Employer Employee
Class 1 - not contracted out
Lower earnings limit £84
Weekly earnings bands payable on earnings
Up to £97 Nil Nil
£97.01 - £645 12.8% 11%
Over £645 12.8% 1%
Men 65 and over and women 60 and over as above Nil
Class 1A On relevant benefits 12.8% Nil
Class 2 Self employed £2.10 per week
Limit of net earnings for exception £4,465 p.a.
Class 3 Voluntary £7.55 per week
Class 4* Self employed on profits  
£5,035 - £33,540 8%
Excess over £33,540 1%

*Exemption applies if state retirement age was reached by 6 April 2006


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