NIM01298 - Class 1 structural overview: abolition of secondary NICs for those employees under the age of 21: category letters
| New under-21 category letter | Description | Existing equivalent category letter for those over 21 |
|---|---|---|
| M | Standard rate contributions | A |
| Z | Deferred rate contributions | J |
| Y | Mariners standard rate contributions | R |
| P | Mariners deferred rate contributions | Q |
| V | Mariners contracted-out salary related contributions | N |
| I | Contracted-out salary related standard rate contributions | D |
| K | Contracted-out salary related deferred rate contributions | L |
Three of the new letters (V, I and K) will only be used for the tax year 2015 to 2016 in line with the ending of ‘contracting-out’ in relation to salary-related occupational pension schemes.