Tax Rates & Allowances

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National Insurance

The rates and thresholds for National Insurance Contributions for 2024/25 are:

Class:	Monthly earnings	Rate
Employer Class 1 above Secondary threshold	Over £758	13.8%
Employee's class 1	£1048 to £4189	10%
Employee's additional class 1	Over £4189	2%
Self-employed class 2 (per week)	N/A	£3.70
Share fishermen class 2 (per week)	N/A	£4.10
Volunteer development workers class 2	N/A	£6.15
Class 3 (per week)	N/A	£17.45
	Annual profit thresholds
Self-employed class 2	Over £12,570 credit available if profits between £6725 and £12,570
Self-employed class 4	£12,570 to £50,270	8%
Self-employed class 4 additional rate	Over £50,270	2%

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