National Insurance

News: March 2014

National Insurance

Employees

The rates and thresholds for National Insurance Contributions for 2014/15 are:

Class: Weekly earnings Rate
Employer’s class 1 above primary threshold Above £153 13.8%
Employee’s class 1 not contracted out From £153 to £805 12%
Employee’s additional class 1 Above £805 2%
Married woman’s rate* From £153 to £805 5.85%
Self-employed class 2(per week) £2.75
Share fishermen class 2 (per week) £3.40
Volunteer development workers class 2 £5.55
Class 3 ( per week) £13.90
Annual profit thresholds
Small earnings exemption class 2 £5,885
Self-employed class 4 From £7,956 to £41,865 9%
Self-employed class 4 additional rate Above £41,865 2%

*only available for women who made a valid married woman’s election before 11 May 1977.

Self-employed

From April 2016 class 2 NICs will be collected through self-assessment, rather than been paid as a separate direct debit on a monthly or six-monthly basis.