National Insurance Contributions 2014/15
Class 1 (Employees)
From 6.4.2012, only employment with a salary-related pension scheme can benefit from the lower contracted-out NIC rates.
| Contracted In | Contracted Out | |
|---|---|---|
| Employee contributions | ||
| - on earnings £153.01 - £770pw | 12.0% | 10.6% |
| - on earnings £770.01 - £805pw | 12.0% | 12.0% |
| - on earnings above £805pw | 2.0% | 2.0% |
| Employer contributions | ||
| - on earnings £153.01 - £770pw | 13.8% | 10.4% |
| - on earnings above £770pw | 13.8% | 13.8% |
Employer contributions (at 13.8%) are also due on most taxable benefits (Class 1A) and on tax paid on an employee’s behalf under a PAYE settlement agreement (Class 1B).
Class 2 (Self-employed)
| Flat rate per week | £2.75 |
| Small earnings exception: profits per annum | £5,885 |
Class 3 (Voluntary)
| Flat rate per week | £13.90 |
Class 4 (Self-employed)
| On profits £7,956 - £41,865 | 9.0% |
| On profits over £41,865 | 2.0% |