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News about National Insurance

From 6 April 2011 the rates for NI contributions will be increasing by 1% and the new rates become…

  • Employer’s class 1 above secondary threshold: 13.8%
  • Employee’s class 1 above primary threshold and below upper earnings limit: 12%
  • Employee’s class 1 above upper earnings limit: 2%
  • Self-employed class 4: 9%
  • Self-employed class 4 additional rate: 2%

The reduced rates of NI for contracted out contributions for employers and employees have not been confirmed as yet.

From 6 April 2011 if you are self-employed you will be able to pay your class 2 NICs in two instalments on 31 January and 31 July, the same dates as your income tax payments on account are due. You can continue to pay your class 2 NIC by monthly direct debit if you wish, but there will be a break in DD requests by HMRC from April 2011 to August 2011.

 

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