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  1. #1

    Dirty spekulant

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    Default Quarterly PAYE payments & Employers NIC

    Hi all,

    Done a search of this forum, PCG, HMRC and Google to no avail so I'm going to ask - as I'm paying PAYE/NI quarterly for my one employee (me) do I pay the employers NI at the same time or later on?

    I know it's not vast amount but I'd like to get it right. I'm also assuming that the amount liable for employers NI is the mount that is above the earnings threshold as well?

    Wouldn't suprise me if it wasn't but would be nice to know - so in a nutshell:

    1. How often do I pay employer's NIC when I'm making quarterly employee NIC/PAYE payments - is it quarterly or annualy with corp tax or some other frequency?

    2. Is the amount liable to employer's NIC the amount above the earning's threshold or all of the employee's salary?

    *Edit - found the answer to this one here :

    12.8 per cent of an employee’s total earnings above the primary threshold
    The primary threshold being different to the lower earning's limit - and who said tax doesn't have to be taxing?! Yay!!

    As for the employee's side of it, do I deduct income tax and NI as an added together % of the employee's salary - I'm asuming I do so for example, income tax = 20%, NI = 11% so I deduct 31% from the gross salary and divide it up for Hector as the two individual payments respectively?

    Just want to get this all tickeddyboo then stick the mofecker on autopilot

    *2nd Edit* - This is what I love about the NL tax system we have right now:

    To work out a director’s standard rate NICs, multiply
    those earnings which exceed the annual, or pro-rata
    annual, ET, up to and including the annual, or pro-rata
    annual, UEL by the appropriate not contracted-out or
    contracted-out percentage rate. Round to the nearest
    penny, rounding down exact amounts of 0.5p. Deduct
    any employee’s contracted-out NIC rebate to which
    the director is entitled. Multiply those earnings which
    exceed the annual, or pro-rata annual, UEL by 1%.
    Round to the nearest penny, rounding down exact
    amounts of 0.5p. Add the totals together.
    This gives the NICs now due.
    http://www.hmrc.gov.uk/nitables/ca44.pdf

    God bless you Hector
    Last edited by Jog On; 8th July 2007 at 08:07.

  2. #2

    Godlike

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    Default

    Just use a calculator (many avail online).

    You pay employer NIC along with PAYE quarterly

  3. #3

    Nervous Newbie


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    Default

    why not use the free Employer CD from IR - it then gives you the forms to file at the end of the tax year as well as doing all the calcs.

  4. #4

    Dirty spekulant

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    Default

    Quote Originally Posted by elainec100
    why not use the free Employer CD from IR - it then gives you the forms to file at the end of the tax year as well as doing all the calcs.
    Yep think I'll do that.

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