National insurance

2020/21 Class 1 (employed) rates

Employee Employer
Earnings per week % Earnings per week %
Up to £183 0 Up to £169 0
£183.01 - £962 12 Over £169 13.8
Over £962 2    

Entitlement to contribution-based benefits for employees retained for earnings between £120 and £183 per week.

The employer rate is 0% for employees under 21 and apprentices under 25 on earnings up to £962 per week.

Class 1A (employers) On employee taxable benefits 13.8%
Class 1B (employers) On PAYE Settlement Agreements 13.8%
Class 2 (self-employed) Flat rate per week £3.05
Small profits threshold £6,475 per annum
Class 3 (voluntary) Flat rate per week £15.30
Class 4 (self-employed) On profits between £9,500 - £50,000 9%
Excess over £50,000 2%

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Company details

01243 776938

James Todd & Co, 1&2 The Barn, Oldwick, West Stoke Road, Chichester PO18 9AA
James Todd & Co, 16 Northgate, Chichester, West Sussex PO19 1BJ
Copyright

© 2020 James Todd & Co. All rights reserved.

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James Todd & Co is the trading name of James Todd & Co Limited. Chartered Accountants and Registered Auditors. Registered No: 07350649 in England. VAT No. 322087875. ICAEW Firm Reference No: C002730145 and James Todd & Co (Lewes) Ltd (formerly known as Axtons). Chartered Accountants. Registered No: 11214467 in England. VAT No. 290460506. ICAEW Firm Reference No: C005791297

Registered to carry out audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details of our audit registration can be viewed at www.auditregister.org.uk

Details of our Designated Professional Body (DPB) activities can be viewed at register.fca.org.uk. A member of the ICAEW Practice Assurance Scheme.