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National Insurance Contributions 2008/09

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

Where the employee has contracted out and has earnings in the £90 to £770 per week range, their employer gains a deduction of 1.4% on contracted out money purchase schemes or 3.7% on contracted out final salary schemes. The employee receives a rebate of 1.6% for either scheme.

Testimonials

Omega came highly recommended to me from a business contact. I thought that accountants were all the same, but after they revolutionised my accounting system, I knew that I would find other users for their talents.

Omega Accountancy now runs my entire accounting function from their office. They provided me with access so that I can check my accounts online. They are always up to date and well presented and informative.

I would say thank you to all of your staff.

Paul Gardener

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Omega Accountancy London Limited - Company Number: 6374590 - VAT Registration Number 919 1094 21 - Registered Office address: Suite 404, 324 Regent Street, London. W1B 3HH. United Kingdom.