Introduction
Personal Income Tax
Tax Credits
National Insurance Contributions
Employees
Savings
Capital Gains Tax
Inheritance Tax
Stamp Duty Land Tax
Corporation Tax
Business Tax
Value Added Tax
Other Measures
Tax Tables
National Insurance
| Rates and limits (Table D) The percentage rates of NIC and most of the thresholds remain unchanged. There is a £2pw increase in the "lower earnings limit" to £97pw. Pay above this level has to be reported under the PAYE system and qualifies the recipient for benefits, but no NIC become payable until earnings reach the "primary threshold" of £110pw. Last year the Chancellor announced further increases in NIC for both employers and employees, but these are not due to come into effect until 6 April 2011. The current intention is that 1% will be added to the rates of employee, employer and self-employed contributions. The primary threshold will be increased in order to compensate those on lower earnings. Only people earning £20,000 or more should pay more in NIC as a result of these increases. |
© Bayar Hughes & Co., 2010.