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National Insurance Contributions
| Class 1 (Employees) | | | Contracted In | Contracted Out | | | | Salary Related | Money Purchase | | Employee contributions | | | | | - on earnings £139.01 - £770pw | 12.0% | 10.4% | 10.4% | | - on earnings £770.01 - £817pw | 12.0% | 12.0% | 12.0% | | - on earnings above £817pw | 2.0% | 2.0% | 2.0% | | Employer contributions | | | | | - on earnings £136.01 - £770pw | 13.8% | 10.1% | 12.4% | | - on earnings above £770pw | 13.8% | 13.8% | 13.8% | | Employer contributions (at 13.8%) are also due on most taxable benefits and on tax paid on an employee's behalf under a PAYE settlement agreement. | | | | Class 2 (Self-employed) | | Flat rate per week | £2.50 | | Small earnings exception: profits per annum | £5,315 | | | | Class 3 (Voluntary) | | Flat rate per week | £12.60 | | | | Class 4 (Self-employed) | | On profits £7,225 - £42,475 | 9.0% | | On profits over £42,475 | 2.0% | | From September 2010, there is a "holiday" from employer's NIC for new businesses employing up to 10 new employees (including directors) in their first year. The maximum benefit is £5,000 per employee. Businesses in certain areas, such as London and the SE, are excluded. |
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