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National Insurance
pmartin86
Posts: 776 Forumite
Hi
Appologies if this is in the wrong forum but it seemed most appropriate.
I started work around 4 months ago, having now received 2 pay checks and expecting a 3rd at the end of this month. I've worked out that Im not getting taxed at the monent due to my personal allowance building up over the months I was unemployed, however I have been paying NI. Ive done some reasearch and I can see that NI is based on a personal allowance also of aproximatly 7500 a year. I was wondering if this was also worked out on a yearly basis or if it simply a set amount of each pay?
I also pay into a pricate pension, whatever this works out as I get tax free, I was wondering if this amount is also NI free or is the NI calcuated on my Gross pay?
Sorry If this post is confusing, any help or advice would be appreciated and if any further clairty is needed on what I said please dont hesitate to ask. Also, I'd like to point out that I'm not "scrounging" or trying to get out of paying tax/NI and Im happy to pay whatever is required, im just trying to work out my exact budget for a few months and im getting rather confused by the whole thing!
Regards
Paul
Appologies if this is in the wrong forum but it seemed most appropriate.
I started work around 4 months ago, having now received 2 pay checks and expecting a 3rd at the end of this month. I've worked out that Im not getting taxed at the monent due to my personal allowance building up over the months I was unemployed, however I have been paying NI. Ive done some reasearch and I can see that NI is based on a personal allowance also of aproximatly 7500 a year. I was wondering if this was also worked out on a yearly basis or if it simply a set amount of each pay?
I also pay into a pricate pension, whatever this works out as I get tax free, I was wondering if this amount is also NI free or is the NI calcuated on my Gross pay?
Sorry If this post is confusing, any help or advice would be appreciated and if any further clairty is needed on what I said please dont hesitate to ask. Also, I'd like to point out that I'm not "scrounging" or trying to get out of paying tax/NI and Im happy to pay whatever is required, im just trying to work out my exact budget for a few months and im getting rather confused by the whole thing!
Regards
Paul
0
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