How much National Insurance (NICS) you pay being self employed
Employed
You pay Class 1 National Insurance contributions. The rates are
12% on your weekly earnings between £155.01 and £815
2% on any weekly earnings over £815
You pay National Insurance with your tax. Your employer will take it from your wages before you get paid.
If you’re a director of a limited company, you may also be your own employee and pay National Insurance Class 1 through your PAYE payroll.
Self employed 2015-16
You’re responsible for paying your own National Insurance. How much you pay depends on your profits:
[column size=1/3] ANNUAL PROFITS
Up to £5,965
£5965 to £8,060
Over £42,385 [/column]
[column size=1/3]CLASS 2 NICS
£2.80
£2.80
£2.80 [/column]
[column size=1/3]CLASS 4 NICS
£0
£0
9% of profits 9% of profits up to £42,385
and 2% over that amount [/column]