National Insurance Contributions (NICs)
| National Insurance Contributions (NICs) | 2012/13 | ||
|---|---|---|---|
| Class 1 (not contracted out) | Employer | Employee | |
| Payable on weekly earnings of: | |||
| Below £107 (lower earnings limit) | Nil | Nil | |
| £107 - £144 (employers’ earnings threshold) | Nil | Nil | |
| £144.01 - £146 (employees’ earnings threshold) | 13.8% | Nil | |
| £146.01 - £770 (upper accrual point) | 13.8% | 12% | |
| £770.01 - £817 (upper earnings limit) | 13.8% | 12% | |
| over £817 | 13.8% | 2% | |
| Over state retirement age, the employee contribution is generally nil | |||
| Class 1A | on relevant benefits | 13.8% | Nil |
| Class 2 | Self employed | £2.65 per week | |
| Limit of net earnings for exception | £5,595 per annum | ||
| Class 3 | Voluntary | £13.25 per week | |
| Class 4* | Self employed on profits | ||
| £7,605 - £42,475 | 9% | ||
| Excess over £42,475 | 2% | ||
| *Exemption applies if state retirement age was reached by 6 April 2012 | |||
Changes to payment dates - Class 2 NICs
From April 2011, HMRC will issue just two payment requests in the year in October and April, showing payments due by 31 January and 31 July, respectively. This means that the due dates for payment of 2011/12 Class 2 NICs will be 31 January 2012 and 31 July 2012.
