Ely Tax & Accountancy joined the Ely office of Whiting & Partners Chartered Accountants & Business Advisers on 1st October 2017, you should shortly be redirected to the Whiting & Partners website https://www.whitingandpartners.co.uk
The rates and thresholds for National Insurance Contributions for 2017/18 are:
|Employer's class 1 above primary threshold||Above £157||13.8%|
|Employee's class 1 not contracted out||From £157 to £866||12%|
|Employee's additional class 1||Above £866||2%|
|Married woman's rate*||From £157 to £866||5.85%|
|Self-employed class 2 (per week)||-||£2.85|
|Share fishermen class 2 (per week)||-||£3.50|
|Volunteer development workers class 2||-||£5.65|
|Class 3 ( per week)||-||£14.25|
|Annual profit thresholds|
|Self-employed class 4||From £8,164 to £45,000||9%|
|Self-employed class 4 additional rate||Above £45,000||2%|
*only available for women who made a valid married woman's election before 11 May 1977.
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.