new personal allowance rates

sunrise27_2

jem16 wrote: »

That's correct.



Can't see the point in this if you are already receiving a qualifying year through work.

thank you just trying to make sure I've covered everything
I didn't know that as long as I earn over a certain amount but don't pay NI it would count - you learn something new every day

noh

You are correct.
You need 30 qualifying years to be entitled to a full state pension.



A qualifying year is a tax year where one of the following applies:

• you have sufficient income to pay NICs
• you are treated as having paid NICs
• you are credited with enough NICs

If you earn an amount between the lower earning limit and the primary threshold you are treated as having paid NICs.
So a qualifying tax year is one in which your total annual earnings exceed 52 x the lower earning limit.
ie £5044 (52x97) this year and £5304 (52x102) next.

http://www.direct.gov.uk/en/Pensionsandretirementplanning/StatePension/Basicstatepension/DG_10014671