What are the national insurance rates for employers and employees? |
Employers have to pay National Insurance contributions for each person they employ who is aged 16 or over and whose earnings are above the defined threshold. The earnings thresholds for NICs are £116.00 weekly or £503.00 monthly. The rate is 12.8%.
Employees aged between 16 and state pension age have a liability to pay National Insurance contributions depending on the amount they earn and whether they work for an employer or are self employed. The rate once reached the earning threshold is 11.8%.
All in all there are six classes of National Insurance contributions. To find out about the latest information on the rates please go to the HMRC website http://www.hmrc.gov.uk/rates/nic.htm.
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