National Insurance Contributions

 

20/21

19/20

Total Individual Savings Account (ISA) limit excluding JISAs

£20,000

£20,000

Lifetime ISA

£4,000

£4,000

Junior ISA (JISA) and Child Trust Fund

£9,000

£4,368

Venture Capital Trust (VCT) at 30%

£200,000

£200,000

Enterprise Investment Scheme (EIS) at 30%*

£2,000,000

£2,000,000

EIS eligible for CGT deferral relief

No limit

No limit

Seed Enterprise Investment Scheme (SEIS) at 50%

£100,000

£100,000

SEIS CGT reinvestment relief

50%

50%

Employment Allowance

£4,000

Per business - not available if sole employee is a director or employer’s NICs for 19/20 £100,000 or more

Limits and Thresholds

20/21

Weekly

Monthly

Annual

Lower earnings limit

£120

£520

£6,240

Primary threshold

£183

£792

£9,500

Secondary threshold

£169

£732

£8,788

Upper earnings limit (and upper secondary thresholds*)

£962

£4,167

£50,000

* Employees generally under 21 years and apprentices under 25 years

Class 1A Employer On car and fuel benefits and most other taxable benefits provided to employees and directors

13.8%

Class 2 Self-employed Flat rate per week

£3.05

£158.60 pa

Small profits threshold No compulsory NICs if annual profits less than      

£6,475 pa

Class 4 Self-employed On annual profits of

£9,500 to £50,000:

9%

 

Over £50,000:

2%

Class 3 Voluntary flat rate per week

£15.30

£795.60pa

image