RATES
AND ALLOWANCES -
NATIONAL INSURANCE CONTRIBUTIONS |
Item
 |
2002/03
|
2003/04
|
| Lower
Earnings Limit |
£89pw |
£77pw |
| Upper
Earnings Limit |
£585 |
£595pw
|
| Primary
Threshold |
£89pw |
£89pw |
| Secondary
Threshold |
£89pw |
£89pw |
| Employee's
contributions |
11%
of £89.01 to £585pw |
11%
of £89.01 to £595 then 1% |
| Employee's
Contracted-out Rates |
1.6% |
1.6% |
| Married
Women Reduced Rate |
3.85% |
4.85%
of £89.01 to £595 then 1% |
| Employer's
Contribution Rates |
12.8%
on earnings
above £89 |
12.8%
on earnings
above £89 |
Employers'
contracted-out rebate,
salary-related schemes |
3.5% |
3.5% |
Employers'
contracted-out rebate,
money-purchase schemes |
1% |
1% |
| Class
2 Self employed Contribution |
£2.00pw |
£2.00pw |
| Class
2 Small Earnings Exception |
£4,025
pa |
£4,095
pa |
Special
Class 2 rate for
share fishermen |
£2.65pw |
£2.65pw |
Special
Class 2 rate for volunteer
development workers |
£3.75pw |
£3.85pw |
| Small
Earnings Exception |
£3,825pa |
£4,095pa |
| Class
3 (voluntary) Contribution |
£6.85pw |
£6.95pw |
| Class
4 Contribution |
7%
of profits between £4,615 and £30,420 |
8%
of profits between £4,615 and £30,940 then 1% |
TAX RATES - NATIONAL INSURANCE