22 March 2006 Budget Report Budget highlights Capital taxes Duties Value added tax National insurance Contributions Business tax and investment incentives Income tax and personal savings Company cars Other measures announced 2006/07 tax calendar

National Insurance Contributions

2006/07 National Insurance Contributions (NICs)
		Employer	Employee
Class 1 - not contracted out
Lower earnings limit			£84
Weekly earnings bands payable on earnings
Up to £97		Nil	Nil
£97.01 - £645		12.8%	11%
Over £645		12.8%	1%
Men 65 and over and women 60 and over		as above	Nil
Class 1A	On relevant benefits	12.8%	Nil
Class 2	Self employed	£2.10 per week
	Limit of net earnings for exception	£4,465 p.a.
Class 3	Voluntary	£7.55 per week
Class 4*	Self employed on profits
	£5,035 - £33,540	8%
	Excess over £33,540	1%
*Exemption applies if state retirement age was reached by 6 April 2006