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HMRC internal manual

# Class 1: calculating & recording earnings, NICs & NIC rebates: rates, limits, thresholds, rebates and P11 completion: 2003/04 completion of forms P11 (2003-04) & P14 (2003-04) example 15 - contracted-out money purchase (comp) scheme -

• Lower Earnings Limit (LEL): £77.00
• Earnings (ET): £89.00
• Upper Earnings Limit (UEL): £595.00

## Weekly earnings of £100.00

 £100.00 - £89.00 = £11.00 Employee’s NICs due = £11.00 x 9.4% = £1.034, rounded to £1.03 £89.00 - £77.00 = £12.00 Employee’s NIC rebate due = £12.00 x 1.6% = £0.192, rounded to £0.19 Net employee’s NICs due = £1.03 - £0.19 = £0.84 Employer’s NICs due = £11.00 x 11.8% = £1.298, rounded to £1.30 Employer’s NIC rebate due = £12.00 x 1% =£0.12 Net employer’s NICs due = £1.30 - £0.12 = £1.18 Total NICs due = £0.84 + £1.18 = £2.02

Complete P11 as follows -

 1a 1b 1c 1d 1e £77 £12 £11 £2.02 £0.84

Assuming earnings are the same for 52 weeks, complete P14 as follows -

 1a 1b 1c 1d 1e £4004 £624 £572 £105.04 £43.68