Tax Rates 2007/08
Introduction
Income Tax
Capital Gains Tax
Corporation tax
Main Capital Allowances
Value Added Tax
Inheritance Tax
Vehicle Benefits
Mileage Allowances
NI Contributions
Key Dates and Deadlines
Pension Premiums
Charitable Giving
Savings and Investment
Some Useful Rates
Stamp Taxes

National Insurance Contributions


Class 1 (not contracted out) Employer Employee
Lower earnings limit   £90
Payable on weekly earnings    
£105.01 - £770 12.8% 11%
Over £770 12.8% 1%
Over state retirement age 12.8% Nil
   
Class 1A (on relevant benefits) 12.8% Nil
   
Class 1B (on PAYE settlement arrangement) 12.8% Nil
   
Class 2 (Self employed) £2.30 per week
Limit of net earnings for exception £4,825 per annum
   
Class 3 (Voluntary) £8.10 per week
   
Class 4 (* Self employed on profits)  
£5,435 to £40,040 8%
Excess over £40,040 1%
*Exemption applies if state retirement age was reached by 6 April 2008.

Note

For those earning between £90 per week and £770 per week, employers receive a rebate of 1.4% on contracted out money purchase schemes or 3.7% on contracted out final salary schemes, and employees, a rebate of 1.6% for either scheme.