Tax Facts 2008/9
National Insurance, Social security benefits and self assessment key dates
| NATIONAL INSURANCE | ||
|---|---|---|
| Class 1 (employed) contracted in | 2008/09 Rates | |
| Weekly earnings | Employer | Employee |
| Up to £105 | Nil* | Nil* |
| £105.01 - £770 | 12.8%** | 11%** |
| Over £770 | 12.8%** | £73.15 + 1%*** |
* Entitlement to contribution-based benefits retained for earnings between £90.01 and £105 per week. ** On earnings above £105. *** On earnings above £770. |
||
| Class 1A (employers) | 12.8% on employee taxable benefits | |
| Class 1B (employers) | 12.8% on PAYE Settlement Agreements | |
| Class 2 (self employed) |
Flat rate per week £2.30 small earnings exception p.a. £4,825 |
|
| Class 3 (voluntary | Flat rate per week £8.10 | |
| Class 4 (self-employed) | 8% on profits between £5,435 and £40,040 plus 1% on profits over £40,040 | |
| MAIN SOCIAL SECURITY BENEFITS | |||
|---|---|---|---|
Weekly benefit |
2008/09 |
2007/08 | |
Basic retirement pension |
single person | £90.70 | £87.30 |
| married couple | £145.05 | £139.60 | |
Statutory pay rates - average weekly earnings £90 (£87) or over |
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Statutory Sick Pay |
£75.40 | £72.55 | |
Statutory Maternity Pay |
first six weeks | 90% of weekly earnings | |
| next 33 weeks | £117.18* | £112.75* | |
Statutory Paternity Pay |
two weeks | £117.18* | £112.75* |
| 39 weeks | £117.18* | £112.75* | |
* Or 90% of weekly earnings if lower. |
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Disclaimer
The information in this tax card is based upon the 2008 Budget and other earlier announcements and may be subject to amendment by the Finance Act.