BUDGET 2005 National Insurance Contributions (NIC)

2005/06 National Insurance Contributions (NICs)
  Employer Employee
Class 1 - not contracted out
Weekly earnings bands payable on earnings
Up to £94 Nil Nil
£94.01 - £630 12.8% 11%
Over £630 12.8% 1%
Men 65 and over and women 60 and over as above Nil
Class 1A On relevant benefits 12.8% Nil
Class 2 Self employed £2.10 per week
Limit of net earnings for exception £4,345 p.a.
Class 3 Voluntary £7.35 per week
Class 4* Self employed on profits  
£4,895 - £32,760 8%
Excess over £32,760 1%

*Exemption applies if state retirement age was reached by 6 April 2005

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