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Class 1 Employed Not Contracted-Out of State Second Pension (S2P)

15/16

Employee

Employer

NICs rate

12%

13.8%

No NICs on the first

– Under 21

£155 pw

£815 pw

– 21 and over

£155 pw

£156 pw

NICs charged up to

£815 pw

No limit

2% NICs on earnings over

£815 pw

N/A

Certain married women

5.85%

13.8%

Employment Allowance per business

£2,000

Contracted-Out rebate on

£112–£770 pw (salary related scheme)

1.4%

3.4%

Limits and Thresholds

Weekly

Monthly

Annual

Lower earnings limit

£112

£486

£5,824

Primary earnings threshold

£155

£672

£8,060

Secondary earnings threshold

£156

£676

£8,112

Upper accrual point

£770

£3,337

£40,040

Upper earnings limit and upper

secondary earnings threshold (under 21) £815

£3,532

£42,385

Class 1A Employer

On most taxable benefits in kind

13.8%

Class 1B Employer

On PAYE settlement agreements

13.8%

Self-Employed Class

2

Flat rate

£2.80 pw

£145.60 pa

Self-Employed

Small profits threshold

£5,965 pa

Self-Employed Class 4

On profits

£8,060–£42,385 pa

9%

Over £42,385 pa

2%

Class 3 Voluntary

Flat rate

£14.10 pw

£733.20 pa

Class 3A Voluntary

(from 12/10/15)

Amount depending on age

15/16

Weekly

Annual

Single person

£115.95

£6,029.40

Spouse/civil partner

£69.50

£3,614.00

Pension Credit – standard minimum guarantee

Single

£151.20

£7,862.40

Couple

£230.85

£12,004.20

Residential property value

UK (excl. Scotland)

Rate

Scotland

Rate

On slices

%

On slices

%

Up to £125,000

0

Up to £145,000

0

£125,001–£250,000

2

£145,001–£250,000

2

£250,001–£925,000

5

£250,001–£325,000

5

£925,001–£1,500,000

10

£325,001–£750,000

10

Over £1,500,000

12

Over £750,000

12

Note: 15% on total value of all UK properties worth over £500,000 if purchased

by companies and certain other non-natural entities.

Commercial property value

UK (excl. Scotland)

Rate

Scotland

Rate

On total

%

On slices

%

Up to £150,000

0

Up to £150,000

0

£150,001–£250,000

1

£150,001–£350,000

3

£250,001–£500,000

3

Over £350,000

4.5

Over £500,000

4

Stamp Duty and SDRT:

Stocks and marketable securities

0.5%

No charge to stamp duty unless amount due exceeds £5.

NATIONAL INSURANCE CONTRIBUTIONS

BASIC STATE PENSION

PROPERTY TRANSACTION TAXES (SDLT AND LBTT)