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National insurance

The rate of employer&#39s National Insurance contributions reduces from 11.9% to 11.8%. The rate for employees is unchanged.

Levels of National Insurance contributions for tax year 2002/2003 were set as follows:-

(a)Employees

The Primary Threshold (ie. the threshold above which employee&#39s NI contributions are payable) is increased to £89 per week. The upper limit is increased to £585 per week

  1. Employers

The Secondary Threshold (ie. the level of an employee&#39s earnings at which the employer begins to pay NI contributions) is set at £89 per week.

(c) Self-employed

The Class 4 rate is 7% of earnings between £4,615 pa and £30,420 pa, and the Class 2 flat-rate contribution remains at £2 per week and becomes due when profits reach £4,025 pa.

(d) Voluntary contributions

The flat-rate of Class 3 voluntary contributions is raised to £6.85 per week.

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