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Tax tables 2007-08

National Insurance Contributions

Class 1 Employees
Not Contracted-Out of State Second Pension (S2P)
	2007/08		2006/07
	Employee	Employer	Employee	Employer
NIC rate	11%	12.8%	11%	12.8%
No NICs on the first	£100 pw	£100 pw	£97 pw	£97 pw
NICs charged up to	£670 pw	No Limit	£645 pw	No Limit
1% NIC on earnings over	£670 pw	N/A	£645 pw	N/A
Certain married women	4.85%	12.8%	4.85%	12.8%

Contracted-out Rebate
	2007/08		2006/07
Rebate on	£87.01 - £670 pw		£84.01 - £645 pw
Salary-related scheme	1.6%	3.7%	1.6%	3.5%
Money-purchase scheme	1.6%	1.4%	1.6%	1.0%
Personal Pension	No reduction		No reduction

Class 1A Employer 2006-08
On car and fuel benefits and most other taxable benefits: 12.8%

Limits and Thresholds
	2007-08			2006/07
	Weekly	Monthly	Annual	Weekly	Monthly	Annual
Lower earnings limit	£87	£377	£4,534	£84	£364	£4,368
NICs start	£100	£435	£5,225	£97	£420	£5,035
Upper earnings limit	£670	£2,904	£34,840	£645	£2,795	£33,540
Lower earnings threshold - SP2			£13,000			£12,500

Class 1A Employer 05-07
Most taxable benefits: 12.8%

Self-employed
		2007/08	2006/07
Class 2	Flat rate	£2.20 pw £114.40 pa	£2.10 pw £109.20 pa
	if earnings over	£4,635 pa	£4,465 pa
Class 4*	On profits	£5,225-£34,840 pa: 8%	£5,035-£33,540 pa: 8%
		Over £34,840 pa: 1%	Over £33,540 pa: 1%

*Unless over state retirement age
on 6 April 2006

Voluntary
		2007/08	2006/07
Class 3	Flat rate	£7.80 pw £405.60 pa	£7.55 pw £392.60 pa

© Copyright 21 March 2007, subject to Finance Act 2007. For information only. Always seek professional advice before acting.