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
Table D
Rates and limits for 2006/07 |
| |
| Class 1 |
Weekly |
Monthly |
Yearly |
| Primary Threshold - employees |
£97 |
£420 |
£5,035 |
| Upper Earnings Limit - employees |
£645 |
£2,795 |
£33,540 |
| Secondary Threshold - employers |
£97 |
£420 |
£5,035 |
|
| |
| Employer's Contribution |
Contracted In |
Contracted Out |
| |
|
Salary Related Scheme |
Money Purchase Scheme |
| On earnings up to threshold |
Nil |
Nil |
Nil |
| On earnings between threshold and upper earnings limit |
12.8% |
9.3% |
11.8% |
| On earnings above upper earnings limit |
12.8% |
12.8% |
12.8% |
|
| |
| Employee's Contribution |
Contracted in: 11% on earnings between lower and upper limits, 1% above upper limit.
Contracted Out: 9.4% on earnings between lower and upper limits, 1% above upper limit.
Earnings over £84 per week qualify for benefit, and must be reported under PAYE, but no NICs are payable until earnings exceed £97 per week.
The reduced Class 1 contributions payable by certain married women and widows is 4.85% for earnings between £97 and £645 per week, 1% above £645 per week. |
| |
| Class 2 (Self-employed) |
Earnings over £4,465 per year |
£2.10 per week |
| Class 3 (Voluntary) |
No limit applicable |
£7.55 per week |
| Class 4 (Self-employed) |
Profits between £5,035 and £33,540 |
8% |
| |
Profits above £33,540 |
1% |
|
|
