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Can you please let me know the Employee and Employer Class 1 NIC rates. This is because in the Open tuition notes, Chapter 11, Example 1 the rate stated in the text is 13.75%, but the answer states that the rate is 13.25%. Please explain the change.
Thank You.
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The NIC rates at the front of the text – Rates and allowances shows the correct rates – 13.25% and the amount charged on income over £50,270.
The example in chapter 11 has the correct answer.
The error is in the text – thank you for pointing this out to me.
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