NEWS
March 14, 2017
| Class 1 employee | 16/17 | 17/18 | ||
| Employee | Employer | Employee | Employer | |
| NIC rate | 12% | 13.8% | 12% | 13.8% |
| No NICs on the first: Age under 21/25 for apprentices Age 21/25 & over | £155 pw £155 pw | £827 pw £156 pw | £157 pw £157 pw | £866 pw £157 pw |
| NICs rate charged up to | £827 pw | No limit | £866 pw | No limit |
| 2% NICs on earnings over | £827 pw | N/A | £866 pw | N/A |
| Certain married women | 5.85% | 13.8% | 5.85% | 13.8% |
| Employment Allowance | £3,000 | |
| Per business. Not available if a director is the sole employee | ||
| Limits and thresholds | 17/18 | ||
| Weekly | Monthly | Annual | |
| Lower earnings limit | £113 | £490 | £5,876 |
| Primary earnings threshold | £157 | £680 | £8,164 |
| Secondary earnings threshold | £157 | £680 | £8,164 |
| Upper earnings limit and upper secondary earnings threshold (under 21 or apprentice under 25) | £866 | £3,750 | £45,000 |
| Class 1A Employer | 16/17 | 17/18 |
| On most taxable benefits provided to employees and directors | 13.8% | 13.8% |
| Self-employed | 16/17 | 17/18 |
| Class 2 | ||
| Flat rate | £2.80 pw £145.60 pa | £2.85 pw £148.20 pa |
| Small profits threshold | £5,965 | £6,025 |
| Class 4 | ||
| On profits | £8,060 – £43,000 pa: 9% Over £43,000 pa: 2% | £8,164 – £45,000 pa: 9% Over £45,000 pa: 2% |
| Voluntary | ||
| Class 3 Flat rate | £14.10 pw £733.20 pa | £14.25 pw £741.00 pa |
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.
