By Molly Ward
April 11—The weekly upper earnings limit for National Insurance contributions increased to 827 pounds ($1,179) from 815 pounds ($1,161) while contribution rates remained the same for the 2016-17 tax year effective April 6, 2016, according to an April 6 release by the United Kingdom's HM Revenue and Customs.
The monthly upper earnings limit also increased to 3,584 pounds ($5,107) from 3,532 pounds ($5,033).
Employees pay National Insurance contributions if they earn more than the primary threshold, which remains unchanged at 155 pounds ($221) a week for 2016-17, at a rate of 12 percent.
The rate drops to 2 percent of employee earnings that are greater than the upper earnings limit of 827 pounds.
To contact the reporter on this story: Molly Ward at email@example.com
To contact the editor responsible for this story: Michael Baer at firstname.lastname@example.org
Rates and thresholds can be found at https://www.gov.uk/government/publications/rates-and-allowances-national-insurance-contributions/rates-and-allowances-national-insurance-contributions.
More information on payroll issues in the U.K. can be found in the U.K. country primer.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)