Okay, so anyone on 543L is now on 603L and can therefore take home an extra £600 pounds salary this year before paying any income tax, correct? But is there a corresponding increase in the National Insurance thresholds, or is all that extra subject to employee's and employer's NI, meaning it's still not worth drawing more than £5435 pay this year?
-
-
Now what do you think is likely to have happened to anything that was not announced with great fanfare.....Originally posted by ittony View Post
http://www.hmrc.gov.uk/thelibrary/taxes-ni.htm -
Yeah NI hadn't changed. Anything above 5435 is subject to employees and employers NI.
I'm taking the hit, I've got a PAYE incentive from last year to spend anyway.Have Fun!Comment
-
Daft question if I may? What are the benefits of paying the NI? I'm talking about practical benefits not the financial benefits. I've asked the accountants if there are benefits to the State pension for me taking a pay increase and the payment of the NI Contributions, and the answer was effectively no. So what are the additional benefits of paying NI on the extra £600+?Originally posted by Bomber View PostIf your company is the best place to work in, for a mere £500 p/d, you can advertise here.Comment
-
Now that you "only" need 30 years NI record for a full state pension (I thought it was from 2010 but my recent pension forecast showed 30 years was enough) and I have paid NI for 35 years already, I'm not sure I get anything by paying the NI.Public Service Posting by the BBC - Bloggs Bulls**t Corp.
Officially CUK certified - Thick as f**k.Comment
Comment