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NATIONAL INSURANCE CONTRIBUTIONS

Income tax rates

Income tax allowances

Capital gains tax

Corporation tax

Inheritance tax

National insurance

Pension relief

Scale benefits for vehicles

Mileage Allowance

VAT

.

Rates for 2012-13

Class 1 - individuals in employment

Lower earnings limit: £107 weekly; £463 monthly; £5564 yearly - there is no liability for either employees or employers if earnings are below these amounts.

For earnings between the lower earnings limit and the secondary threshold although no NICs are actually paid they are treated as having been paid for the purposes of claiming benefits.

Secondary threshold (Employees & Employers): £144 weekly; £624 monthly; £7488 yearly - for earnings between the secondary threshold and the primary threshold NICs become payable by the employer but not the employee.

Primary threshold (Employees & Employers): £146 weekly; £632 monthly; £7592 yearly

Upper accrual point: £770 weekly; £3337 monthly; £40040 yearly

Upper earnings limit: £817 weekly; £3,540 monthly; £42475 yearly - applies to employees only.

Not contracted-out rates
weekly earnings
Employee
Employer
0.00 to 107.00
nil
nil
107.01 to 144.00
0.0%
0.0%
144.01 to 146.00
0.0%
13.8%
 
144.01 to 817.00
12.0%
13.8%
Over 817.00
2.0%
13.8%
 
Contracted-out rates
weekly earnings
Employee
Employer
 
COSR
COMP
0.00 to 107.00
nil
nil
nil
107.01 to 144.00
0.0%
0.0%
0.0%
144.01 to 146.00
0.0%
10.4%
13.8%
139.01 to 770.00
10.6%
10.4%
13.8%
£770.01 to £817
12%
13.8%
13.8%
Over 817.00
2.0%
13.8%
13.8%

Employer contributions - COSR above relates to contracted-out salary-related schemes and COMP to contracted-out money-purchase schemes.

Class 2 - self-employed individuals - £2.65 per week. Earnings under £5595 are exempt.

Class 3 - voluntary contributions - £13.25 a week.

Class 4 - self employed individuals - 9% on assessable profits between £7605 and £42475 a year and 2% on profits above £42475.

Rates for 2011-12

Class 1 - individuals in employment

Lower earnings limit: £102 weekly; £442 monthly; £5304 yearly - there is no liability for either employees or employers if earnings are below these amounts.

For earnings between the lower earnings limit and the secondary threshold although no NICs are actually paid they are treated as having been paid for the purposes of claiming benefits.

Secondary threshold (Employees & Employers): £136 weekly; £589 monthly; £7072 yearly - for earnings between the secondary threshold and the primary threshold NICs become payable by the employer but not the employee.

Primary threshold (Employees & Employers): £139 weekly; £602 monthly; £7225 yearly

Upper accrual point: £770 weekly; £3337 monthly; £40040 yearly

Upper earnings limit: £817 weekly; £3,540 monthly; £42475 yearly - applies to employees only.

Not contracted-out rates
weekly earnings
Employee
Employer
0.00 to 102.00
nil
nil
102.01 to 136.00
0.0%
0.0%
136.01 to 139.00
0.0%
13.8%
 
139.01 to 817.00
12.0%
13.8%
Over 817.00
2.0%
13.8%
 
Contracted-out rates
weekly earnings
Employee
Employer
 
COSR
COMP
0.00 to 102.00
nil
nil
nil
102.01 to 136.00
0.0%
0.0%
0.0%
136.01 to 139.00
0.0%
10.1%
12.4%
139.01 to 770.00
10.4%
10.1%
12.4%
£770.01 to £817
12%
13.8%
13.8%
Over 817.00
2.0%
13.8%
13.8%

Employer contributions - COSR above relates to contracted-out salary-related schemes and COMP to contracted-out money-purchase schemes.

Class 2 - self-employed individuals - £2.50 per week. Earnings under £5315 are exempt.

Class 3 - voluntary contributions - £12.6 a week.

Class 4 - self employed individuals - 9% on assessable profits between £7225 and £42475 a year and 2% on profits above £42475.

Rates for 2010-11

Class 1 - individuals in employment

Lower earnings limit: £97 weekly; £420 monthly; £5044 yearly - there is no liability for either employees or employers if earnings are below these amounts.

Upper earnings limit - £844 weekly; £3,656 monthly; £43875 yearly - applies to employees only.

Not contracted-out rates
weekly earnings
Employee
Employer
0.00 to 97.00
nil
nil
97.01 to 110.00
0.0%
0.0%
110.01 to 844.00
11.0%
12.8%
Over 844.00
1.0%
12.8%
 
Contracted-out rates
weekly earnings
Employee
Employer
 
COSR
COMP
0.00 to 97.00
nil
nil
nil
97.01 to 110.00
0.0%
0.0%
0.0%
110.01 to 770.00
9.4%
9.1%
11.4%
£770.01 to £844.00
11%
12.8%
12.8%
Over 844.00
1.0%
12.8%
12.8%

Employer contributions - COSR above relates to contracted-out salary-related schemes and COMP to contracted-out money-purchase schemes.

Class 2 - self-employed individuals - £2.40 per week. Earnings under £5075 are exempt.

Class 3 - voluntary contributions - £12.05 a week.

Class 4 - self employed individuals - 8% on assessable profits between £5715 and £43875 a year and 1% on profits above £43875.

 

 

 


The Tax Practice (Guildford) Limited registered in England & Wales 4414698