NEWS
November 1, 2018
| NATIONAL INSURANCE CONTRIBUTIONS | ||
| Class 1 | 19/20 | |
| Employee | Employer | |
| NICs rate | 12% | 13.8% |
| No NICs for employees generally on the first | £166 pw | £166 pw |
| No NICs for younger employees* on the first | £166 pw | £962 pw |
| NICs rate charged up to | £962 pw | No limit |
| 2% NICs on earnings over | £962 pw | N/A |
| Certain married women | 5.85% | 13.8% |
| Employment Allowance | £3,000 | £3,000 | ||||
| Per business. Not available if the sole employee a director | ||||||
| Limits and thresholds | 19/20 | |||||
| Weekly | Monthly | Annual | ||||
| Lower earnings limit | £118 | £512 | £6,136 | |||
| Primary threshold | £166 | £720 | £8,632 | |||
| Secondary threshold | £166 | £720 | £8,632 | |||
| Upper earnings limit (and upper secondary thresholds*) | £962 | £4,167 | £50,000 | |||
| * Employees generally under 21 years and apprentices under 25 years | ||||||
| Class 1A Employer On car and fuel benefits and most other taxable benefits provided to employees and directors | 13.8% | |||||
| Class 2 Self-Employed Flat rate | £3.00 pw | £156.00 pa | ||||
| Self-employed Small profits threshold: no compulsory NICS if profits do not exceed | £6,365 pa | |||||
| Class 4 Self-Employed On profits | £8,632 – £50,000 pa | 9% | ||||
| Over £50,000 pa | 2% | |||||
| Class 3 Flat rate | £15.00 pw | £780.00pa | ||||
PLEASE NOTE: By the very nature of this type of information the details of tax law might have changed since they were published, so contact your Barnes Roffe partner before acting on any matter contained in this document.
West London
3 Brook Business Centre,
Cowley Mill Road,
Uxbridge, UB8 2FX
T +44 (0) 1895 256423
East London
Leytonstone House,
Leytonstone,
London, E11 1GA
London, E11 1GA
T +44 (0) 20 8988 6100
South London
Charles Lake House, Claire Causeway, Crossways Business Park, Dartford DA2 6QA
T +44 (0) 1322 275335
London Bridge
1st Floor,
73–81 Southwark Bridge Road,
London, SE1 0NQ
73–81 Southwark Bridge Road,
London, SE1 0NQ
T +44 (0) 20 3814 9990
City London
46 New Broad Street,
London, EC2M 1JH
London, EC2M 1JH
T +44 (0) 20 3890 7360
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PLEASE NOTE: By the very nature of this type of information the details of tax law might have changed since they were published, so contact your Barnes Roffe partner before acting on any matter contained in these documents.
