The following tax rates and allowances are applicable for the tax year 1997/98 with comparatives for the year 1996/97.
| NATIONAL INSURANCE CONTRIBUTIONS | |||||
| 1997/98 | |||||
| Class 1 Employed | Contracted In | Contracted Out | |||
| Employee | On First £62.00 | On Balance | On First £62.00 | On Balance | |
| £ per week | |||||
| £0.01 | £61.99 | 0.00% | 0.00% | 0.00% | 0.00% |
| £62.00 | £465.00 | 2.00% | 10.00% | 2.00% | 8.40% |
| Employer | |||||
| £ per week |
First £62.00 |
Balance (Salary related) |
Balance (money purchase) |
||
| £0.01 | £61.99 | 0.00% | 0.00% | 0.00% | 0.00% |
| £62.00 | £109.99 | 3.00% | 3.00% | 0.00% | 1.50% |
| £110.00 | £154.99 | 5.00% | 5.00% | 2.00% | 3.50% |
| £155.00 | £209.99 | 7.00% | 7.00% | 4.00% | 5.50% |
| £210.00 | £465.00 | 10.00% | 10.00% | 7.00% | 8.50% |
| Over £465.00 | - | 10.00% | 10.00% | £34.41 + 10% on excess over £465 | £40.45 + 10% on excess over £465 |
| Class 2 Self Employed | Per Week | ||||
| When earnings exceed £3480 p.a. | £6.15 | ||||
| Class 3 Voluntary | £6.05 | ||||
| Class 4 Self Employed | |||||
| on annual profits between £7010-£24180 (maximum payable £1030.20) | 6.00% | ||||