2013 – 2014 Class 1 NIC

Class 1: Employed Earnings

Earnings up to £149 a week                                                                                   NIL

Earnings between £149.01 and £770 a week                                                      12.0%

Earnings between £770.01 and £797 a week                                                      12.0%

Earnings over £797 a week                                                                                    2.0%

Rebate on earnings between £109.01 and £149 a week                                       NIL

 

Employer costs

Earnings up to £148 a week                                                                                     NIL

Earnings between £148.01 and £770 a week                                                        13.8%

Earnings over £770 a week                                                                                    13.8%

Rebate on earnings between £109.01 and £148 a week                                         NIL

2013 – 2014 Class 4 NIC

Class 4: Self-employed persons

The rate of contribution will be 9 per cent on earnings between £7,755 and £41,450, plus 2 per cent on earnings
above £41,450 (the 2012/13 contribution was 9 per cent on earnings between £7,605 and £42,475, plus 2 per cent
on earnings above that figure). The threshold is equal to the Primary Threshold (at which employees begin to pay
contributions), the ceiling for 9% contributions is equal to the Upper Earnings Limit.

2013 – 2014 INCOME TAX RATES

Personal Taxation

Income Tax Rates and Allowances

 

Rates of income tax

2013/14

2012/13

£

£
10% starting rate (for savings

income only) to:

2,790

2,710
20% basic rate on income   to:

32,010

34,370
40% higher rate on income to:

150,000

150,000
Additional  rate thereafter:

45%

50%
Higher rate on dividends

32.5%

32.5%

– effective rate with tax credit

25%

25%
Additional  rate on dividends

37.5%

42.5%

 – effective rate  with tax credit

30.6%

36.1%
Personal   allowances  

 

 

Personal allowance                                9,440t          8,105t

 

Registered blind person                         2,160           2,100

 

t Reduced £1 for £2 where income exceeds £100,000