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National insurance contributions (NICs)

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2019/20 Class 1 (employed) rates

Employee Employer
Earnings per week % Earnings per week %
Up to £166 0 Up to £166 0
£166.01 - £962 12 Over £166 13.8
Over £962 2    

Entitlement to contribution-based benefits for employees retained for earnings between £118.01 and £166 per week.

The employer rate is 0% for employees under 21 and apprentices under 25 on earnings up to £962 per week.

Class 1A (employers) On employee taxable benefits 13.8%
Class 1B (employers) On PAYE Settlement Agreements 13.8%
Class 2 (self-employed) Flat rate per week £3.00
Small profits threshold £6,365 per annum
Class 3 (voluntary) Flat rate per week £15.00
Class 4 (self-employed) On profits between £8,632 - £50,000 9%
Excess over £50,000 2%

In a change to the government's previous plans, Class 2 NICs are no longer set to be abolished from April 2019.

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18 Apr 2024

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Contact details

Office: 01242 260066

Company Registration No: 4161638
Company Registered in England and Wales.
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Company details
Mitchell Glanville Limited
Registered Address: 41 Rodney Road, Cheltenham, Gloucestershire GL50 1HX
Mitchell Glanville Limited regulated by the Institute of Chartered Accountants in England and Wales If, during the provision of professional services to you, you need advice on investments, we may have to refer you to someone who is authorised by the Financial Conduct Authority, as we are not. However, as we are licensed by the Institute of Chartered Accountants in England and Wales, we may be able to provide certain investment services where these are complementary to or arise out of the professional services we are already providing to you.

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