What's national insurance?

What's national insurance?

26-8-17

 

In addition to income tax, most UK workers also have national insurance contributions deducted from their pay

These start based on your earnings from the age of 16 - you usually stop paying when you reach state pension age

What's my national insurance rate 2017/18 ?
The current tax year is from 6 April 2017 to 5 April 2018
  National insurance rate 2017/18 (For employed, NOT self-employed)
Earnings  
Per week Annual salary  
Under £157 Under £8,164 No national insurance payable
 
£157 - £866 £8,164 - £45,000 12% on everything earned between £157-£866 / week
 
Over £866 Over £45,000 12% on everything earned between £157-£866 / week - 2% on everything above that

 

Some advanced national insurance rules, particularly for the self-employed, are very complicated

* For a further in depth explanation of national insurance rules - Please Go to the HMRC/national-insurance website for full rates

 

 

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