HMRC To Abolish Employer’s National Insurance Contributions For Under 21s

From 6 April 2015 employer's will no longer have to pay class 1 secondary national insurance contributions (NIC) for employees under 21, whose earnings are below the upper secondary threshold. Under the current regime class 1 secondary NICs are due, from the employer, on payments made to employees in excess of the secondary threshold at … Continue reading HMRC To Abolish Employer’s National Insurance Contributions For Under 21s

Employer Beware! National Insurance Contributions On Expenses Can Be Significant

When Employers consider their exposure to national insurance contributions for Directors and employees, they tend to think only of the Employer's contributions due on the salaries paid. However, significant further NIC liabilities can arise in respect of benefits-in-kind. There are two types of potential NIC on benefits provided: Class 1 NIC - payable by both … Continue reading Employer Beware! National Insurance Contributions On Expenses Can Be Significant

National Insurance – A Class Act

National Insurance was introduced in the UK as long ago as 1911, initially as a contributory fund to provide benefits in the event of incapacity due to sickness or unemployment.¬†Over the years, the scheme has been broadened to include provision of a wide range of social security benefits, and, in particular, as a way of … Continue reading National Insurance – A Class Act