NIM11020 - Calculating & recording Class 1 earnings, NICs & NIC rebates: 2001/02: Earnings limits, thresholds & percentage rates
|
Class 1 Earnings Limits, Thresholds and Percentage Rates 2001-2002 |
| LEL | Earnings Thresholds | UEL | |
| Weekly | 72.00 | 87.00 | 575.00 |
| Monthly | 312.00 | 378.00 | 2492.00 |
| Annual | 3744.00 | 4535.00 | 29900.00 |
| Not contracted-out employment |
| EE% Rate | ER% Rate |
| On earnings over £72 up to and including £87 | On earnings over £72, up to and including £87 |
| 0% | 0% |
| On earnings over £87 up to and including UEL | On earnings over £87 |
| 10% | 11.9% |
| Contracted-out employment |
| EE% Rate | ER% Rate |
| On earnings over £72 up to and including £87 | On earnings over £72, up to and including £87 |
| COSR & COMP | COSR & COMP |
| 0% | 0% |
| On earnings over £87 up to and including UEL | On earnings over £87, up to and including UEL |
|
8.4% |
COSR |
COMP |
|
8.9% |
11.3% |
|
On earnings over UEL |
|
11.9% |
11.9% |
| Employee’s rebate on earnings above £72 up to and including £87 (except for married woman’s reduced rate NICs) | Employer’s rebate on earnings above £72 up to and including £87 |
| COSR | COMP | COSR | COMP |
| 1.6% | 1.6% | 3.0% | 0.6% |
|
Married Woman (Employee Rate) |
3.85%* |
*Employees do not pay contributions on earnings over the weekly, monthly or yearly Upper Earnings Limit
