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Krogh & Partners Limited
 
Your auditor, accountant and advisor in the United Kingdom
National Insurance Contributions







Class 1 (Employees)

2017/18



Employee
       Employer
Main NIC rate
12.0%
13.8%
No NIC on first
157pw
157pw
Main rate* charged up to          
866pw
no limit
2% rate on earnings above
866pw
N/A
Employment allowance per business**          
N/A
3,000




*Nil rate of employer NIC for employees under the age of 21 and apprentices under 25, up to 866pw.

Employer contributions (at 13.8%) are also due on most taxable benefits (Class 1A) and on tax paid on an employee's behalf under a PAYE settlement agreement (Class 1B).

**Some businesses do not qualify, including certain sole director companies.




Class 2 (Self-employed)



Flat rate per week   


2.85
Small profts threshold


6,025




Class 3 (Voluntary)



Flat rate per week   


14.25




Class 4 (Self-employed)



On profits 8,164 - 45,000


9.0%
On profits over 45,000 


2.0%





Tax rates

Tax rates 2016/17
Income Tax
Annual investment limits
Vehicle Benefit
Tax free mileage allowances
National Insurance Contributions
Pension contributions
Inheritance Tax
Value Added Tax
Capital Gains Tax
Corporation Tax
Main capital allowances
Property Taxes
Key dates and deadlines
Useful rates