Page 29 - Budget Newsletter 2021
P. 29
Limits and thresholds 2021/22 2022/23
Weekly Yearly Weekly Yearly
£ £ £ £
Lower earnings limit 120 6,240 123 6,396
Primary earnings threshold 184 9,568 190 9,880
Secondary earnings threshold 170 8,840 175 9,100
Upper secondary threshold – U21s* 967 50,270 967 50,270
Upper earnings limit 967 50,270 967 50,270
* Under 25 for apprentices.
Self-employed and non-employed 2021/22 2022/23
Class 2
Flat rate £3.05 pw £3.15 pw
Small profits threshold £6,515 pa £6,725 pa
Class 4 (Unless over state pension age on 6 April)
On profits £9,568– £50,270 pa: 9% £9,880 – £50,270 pa: 10.25%
Over £50,000 pa: 2% Over £50,270 pa: 3.25%
Class 3 (Voluntary)
Flat rate £15.40 pw £15.85 pw
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