Budget 2012 – Annual Tax Rates and Allowances

National Insurance Contributions (NIC) - GT

National Insurance Contributions (NIC)

Class 1 employed

Employee Contributions

From 6 April 2012
Earnings per week (£) Not contracted out1 Contracted out1
0-146.00
nil
nil
146.01-770.00
12%
10.6%
770.01-817.00
12%
12%
over 817.00
2%
2%

Employer Contributions

From 6 April 2011
Earnings per week (£) Not contracted out1 Contracted out1
0-144.00
nil
nil
144.01-770.00
13.8%
10.4%
over 770.00
13.8%
13.8%
  • Employer’s NIC of 13.8% applies to most income tax benefits.
  • Employee’s rate for a married woman with a valid election 5.85% on earnings of £146.01 – £817.00 and 2% on earnings above £817

1 Employer’s contribution rate of 12.4% in respect of money purchase schemes.

From 6 April 2011 to 5 April 2012
Earnings
Not contracted out1 Contracted out1

per week (£)

employer employee employer employee
0-136.00
nil
nil
nil
nil
136.01-139.00
13.8%
nil
10.1%
nil
139.01-770.00
13.8%
12%
10.1%
10.4%
770.01-844.00
13.8%
12%
13.8%
12%
over 844.00
13.8%
2%
13.8%
2%
  • Employer’s NIC of 13.8% applies to most income tax benefits.
  • Employee’s rate for a married woman with a valid election 5.85% on earnings of £139.01 – £817.00 and 1% on earnings above £817.

1 Employer’s contribution rate of 12.4% in respect of money purchase schemes.

Class 2 self-employed

  2012/2013 2011/2012
Flat rate
£2.65 pw
£2.50 pw
Share fishermen
£3.30 pw
£3.15 pw
Volunteer development workers
£5.35 pw
£5.10 pw
Small earnings exception
£5,595 pa
£5,315 pa

Class 3 Voluntary

  2012/2013 2011/2012
Flat Rate £13.25 pw £12.60 pw

Class 4 self-employed

 

2012/2013

2011/2012

Main rate on profit 9% 9%
Annual lower limit £7,605 £7,225
Annual upper limit £42,475 £42,475
Rate above upper limit 2% 2%
1 2 3 4 5 6 7 8 9 10 11 12 13

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