Budget 2006
Introduction
Personal Income Tax
Tax Credits
National Insurance Contributions
Employees
Savings
Trusts
Capital Gains Tax
Stamp Duty Land Tax
Inheritance Tax
Corporation Tax
Business Tax
Value Added Tax
Other Measures
Tax Tables
National Insurance
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National Insurance Contributions
Rates and limits (Table D)
The percentage rates of NIC remain unchanged. There are small increases in the thresholds and upper limits, and also in the flat rate weekly payments under Class 3 (voluntary contributions). The weekly Class 2 contribution remains unchanged, although the exception for small earnings has gone up by inflation.
An increase in NIC rates has much the same effect as an increase in income tax, but it is argued by whoever increases it that it is not a tax - it's therefore seen as an easy place to raise money, but not this time.
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