Class 1 (not contracted out)	Employer	Employee
Lower earnings limit		£90
Payable on weekly earnings
£105.01 - £770	12.8%	11%
Over £670	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.

10 Lonsdale Gardens

Tunbridge Wells

Kent TN1 1NU

01892 507 280

info@wellsassociates.com

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Wells Associates is the trading name of Wells Professional Partnership LLP which is registered to carry on audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales.

Registered Office: 10 Lonsdale Gardens Tunbridge Wells Kent TN1 1NU Registered No: OC307133 England and Wales	© 2006 - 2008 Wells Associates and MSO.net