National insurance planning

Obligations and opportunities National insurance contributions (NICs) are set aside to pay the state pension and other benefits, but due to the UK’s ageing population the National Insurance Fund is under increasing strain, with the state pension taking up more than 90% of its annual outlay in 2018. A review by the Government Actuary’s Department[…]

Tax Card 2017/18

Tax Card 2017/18 Taxable Income Bandes and Tax Rates   2017/18 2016/17 Starting rate of 0% on savings up to £5,000* £5,000* Basic rate band Scottish basic rate band £33,500 £31,500 £32,000 £32,000 Higher rate band Scottish higher rate band £33,501-£150,000 £31,501-£150,000 £32,001-£150,000 £32,001-£150,000 Basic rate 20% 20% Higher rate 40% 40% Additional rate 45%[…]