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?
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Optimal pay for new 603L tax codes
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Originally posted by ittony View PostOkay, 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?
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
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Originally posted by Bomber View PostYeah 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.If your company is the best place to work in, for a mere £500 p/d, you can advertise here.Comment
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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
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