National Insurance

RoxRoxBling

I understand how you don't pay income tax for year 2011-12 if your income was below 7470.
Is there any thing similar before you pay National Insurance contributions. Do you have to earn above a certain amount until you pay national insurance contributies through your pay.

Thanx In Advance!

McKneff

I think its roundabout £102 a week, then its 12%

Mikeyorks

RoxRoxBling wrote: »

Is there any thing similar before you pay National Insurance contributions.

Yes - but it's weekly / monthly not annually.

Rates here :

http://www.hmrc.gov.uk/rates/nic.htm

chrisbur

You start paying NI when you earn over the Primary threshold currently £146 a week but you are treated as having paid it if your weekly earnings are equal to or more than the Lower earnings limit currently £107 a week.

zygurat789

Mikeyorks wrote: »

Yes - but it's weekly / monthly not annually.

Rates here :

http://www.hmrc.gov.uk/rates/nic.htm

I thought that unless you were a company director NI was only due on receipt of money.

Horseunderwater

2011/12 NI threshold was £102/week - but you do not pay anything unless you earn more than the primary threshold of £139/week.
This year 2012/13 it has gone up to £107 and £146 respectively. To get the annual amount just multiply the 2 primary figures by 52.
The 1st figure is used to calculate things like SSP/JSA/ESA and if an employer/gov't dept may pay them or not. So anything that anyone earns above the £146/week is then NI'd at 12%. Even if you do not receive SSP etc, it is worth contacting ESA and JSA dept's as they can make sure that your NI records are kept going, so that you will still get all the years you need for the full state pension, such as it is!