Introduction
Personal Taxation
Employee Taxation
Investment Reliefs
Capital Gains Tax
Trusts
National Insurance Contributions
Tax Credits
Inheritance Tax
Business Tax
Corporation Tax
Value Added Tax
Stamp Duty
Insurance Premium Tax
| For employees' NIC, see Employee Taxation page. Self-employed people pay: * weekly Class 2 contribution of £2.10, unless they claim exception for small earnings (below £4,465). * Class 4 NIC at 8% of taxable profits between £5,035 and £33,540. Profits over £33,540 will be charged at 1%. This is assessed and paid with the self-assessment income tax on profits. Class 3 voluntary NIC may be paid at £7.55 per week by someone who is not in work but who wishes to maintain state pension rights. | ||
| Annual limits | ||
| Someone who is both employed and self-employed will pay Class 1, Class 2 and Class 4 NIC. It is possible to apply for deferment of Class 4 so that the Class 1 paid on earnings can be taken into account. Class 4 will then be charged at only 1%, and the overall liability will be settled at a later date. |
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