In the UK, most working people between the ages of 16 and 65 are eligible to pay national insurance contributions, or NICs. Paying NICs helps you build up entitlement to certain social security benefits, including the state retirement pension. The amount of NICs you pay depends on how much you earn and whether you’re employed or self-employed.
| Weekly Earnings | Rate |
|---|---|
| Up to £110 | 0% |
| £110.01–£844 | 11%, or 9.4% if contracted out of the state second pension |
| Over £844 | 1% on earnings above this level |
| Limit below which Class 2 not payable: | £5,075 |
| Class 2 rate: | £2.40 per week |
| Class 4 rate: | 8% on profits between £5,715 and £43,875 and 1% on sums above the upper limit |
dummies
Source:http://www.dummies.com/how-to/content/national-insurance-contributions-in-the-uk.html
No comments:
Post a Comment