Thread: First wage slip
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Old 10th May 2008, 08:10   #8
oafc0000
Lurker not a fighter
 
Join Date: Feb 2008
Posts: 68
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Quote:
Originally Posted by Danbro View Post
Hi,

This will almost certainly be due to your wage being calculated using the Directors rules for National Insurance, these rules mean that your first £5435 for 08/09 are taxed at 0% immediately and not pro-rat'd over the year like normal employees, therefore until your total salary for 08/09 exceeds £5435 your national insurance will be nil, then after this your total pay will incur 11% e'ees NI and 12.8% e'ers NI

Thanks
Neil
Thanks for that Neil.....

I would of doubled checked with the accountant but they are closed over the weekend.

Great news when you miss something and it actually lands more money in your lap
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