Legislation
Class 1 National Insurance Rates
Date
Effective FY 23-24
Summary
Class 1 National Insurance Rates – Employee
| Contribution Table Letter | Earnings below LEL | Earning at or above LEL up to and including PT | Earning above the PT up to and including UEL | Balance of earnings above the UEL |
|---|---|---|---|---|
| A - Standard Rate | NIL | 0 | 12% | 2% |
| B - Reduced Rate | NIL | 0 | 5.85% | 2% |
| C - Over State Pensions Age | NIL | NIL | NIL | NIL |
| F - Freeport Standard Rate | NIL | 0 | 12% | 2% |
| H - Apprentice under 25 | NIL | 0 | 12% | 2% |
| I - Freeport Reduced Rate | NIL | 0 | 5.85% | 2% |
| J - Deferment | NIL | 0 | 2% | 2% |
| L - Freeport Deferment | NIL | 0 | 2% | 2% |
| M - Under 21 | NIL | 0 | 12% | 2% |
| S - Freeport Above SPA | NIL | NIL | NIL | NIL |
| V - Veteran | NIL | 0 | 12% | 2% |
| Z - Deferment under 21 | NIL | 0 | 2% | 2% |
Class 1 National Insurance Rates – Employer
| Contribution Table Letter | Earnings below LEL | Earnings at or above the LEL up to and including the ST | Earnings above the ST up to and including the FUST | Earnings above the FUST up to and including UST/AUST/VUST | Balance of earnings above UST/AUST/VUST |
|---|---|---|---|---|---|
| A - Standard Rate | NIL | 0 | 13.8% | 13.8% | 13.8% |
| B - Reduced Rate | NIL | 0 | 13.8% | 13.8% | 13.8% |
| C - Over State Pensions Age | NIL | 0 | 13.8% | 13.8% | 13.8% |
| F - Freeport Standard Rate | NIL | 0 | 0 | 13.8% | 13.8% |
| H - Apprentice under 25 | NIL | 0 | 0 | 0 | 13.8% |
| I - Freeport Reduced Rate | NIL | 0 | 0 | 13.8% | 13.8% |
| J - Deferment | NIL | 0 | 13.8% | 13.8% | 13.8% |
| L - Freeport Deferment | NIL | 0 | 0 | 13.8% | 13.8% |
| M - Under 21 | NIL | 0 | 0 | 0 | 13.8% |
| S - Freeport Above SPA | NIL | 0 | 0 | 13.8% | 13.8% |
| V - Veteran | NIL | 0 | 0 | 0 | 13.8% |
| Z - Deferment under 21 | NIL | 0 | 0 | 0 | 13.8% |
Please note: 2023-2024 sees Class 1 NICs return to normal in that a separate set of rates and thresholds for directors are not required. The attached rates and thresholds table is for employees and directors.
Class 1A NICs rate: 13.8%
Class 1B NICs rate: 13.8%
Tax fact card 2023 – 2024
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