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[…]
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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%[…]
Back in the 2013 Autumn Statement it was announced that from April 2015 there would be no employer National Insurance Contributions (NICs) due on earnings up to the upper earnings limit for all employees under the age of 21. This NIC relief covers both existing employees and to all employers taking on new staff. With[…]