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WASPI ‘victory’
Comments
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See section 2 of https://www.moneydonut.co.uk/tax/national-insurance/essential-guide-to-national-insurance (a very good guide to a lot of NI-related questions).FIREDreamer said:If you had 5 part time jobs, each paying £10k per annum, as each pays less than £12,570 - would any NI be deducted at all?Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1 -
NI weekly threshold limits apply separately to each job so someone with multiple low paying part time jobs would pay no or very little NI, but:FIREDreamer said:If you had 5 part time jobs, each paying £10k per annum, as each pays less than £12,570 - would any NI be deducted at all?
1) - NI thresholds isn't annual like the personal allowance - it's weekly so any week where a job pays more than £242 brings you in scope for that week; and
2) - If the separate employers are connected to each other then they're treated as one employer and pay aggregated for the purpose of NI limits.
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“ Employees with more than one job pay NICs for each job earning over the Primary Threshold.”Marcon said:
See section 2 of https://www.moneydonut.co.uk/tax/national-insurance/essential-guide-to-national-insurance (a very good guide to a lot of NI-related questions).FIREDreamer said:If you had 5 part time jobs, each paying £10k per annum, as each pays less than £12,570 - would any NI be deducted at all?
ie they don’t.
That could be a good wheeze for some people!1 -
This is where a digital currency starts to become really useful.FIREDreamer said:
“ Employees with more than one job pay NICs for each job earning over the Primary Threshold.”Marcon said:
See section 2 of https://www.moneydonut.co.uk/tax/national-insurance/essential-guide-to-national-insurance (a very good guide to a lot of NI-related questions).FIREDreamer said:If you had 5 part time jobs, each paying £10k per annum, as each pays less than £12,570 - would any NI be deducted at all?
ie they don’t.
That could be a good wheeze for some people!
All your income can be tracked.
And all your spending.
And all your tax payment.0 -
Why do you need a digital currency to do that? A spreadsheet works fine for most of us.BlackKnightMonty said:
This is where a digital currency starts to become really useful.FIREDreamer said:
“ Employees with more than one job pay NICs for each job earning over the Primary Threshold.”Marcon said:
See section 2 of https://www.moneydonut.co.uk/tax/national-insurance/essential-guide-to-national-insurance (a very good guide to a lot of NI-related questions).FIREDreamer said:If you had 5 part time jobs, each paying £10k per annum, as each pays less than £12,570 - would any NI be deducted at all?
ie they don’t.
That could be a good wheeze for some people!
All your income can be tracked.
And all your spending.
And all your tax payment.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1 -
What I think is more scandalous is that the old SP and the new SP will not rise at the same rate so that all on the old SP will fall behind quite considerably as the years progress.
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This isn’t about YOU tracking your money/spend/taxes!Marcon said:
Why do you need a digital currency to do that? A spreadsheet works fine for most of us.BlackKnightMonty said:
This is where a digital currency starts to become really useful.FIREDreamer said:
“ Employees with more than one job pay NICs for each job earning over the Primary Threshold.”Marcon said:
See section 2 of https://www.moneydonut.co.uk/tax/national-insurance/essential-guide-to-national-insurance (a very good guide to a lot of NI-related questions).FIREDreamer said:If you had 5 part time jobs, each paying £10k per annum, as each pays less than £12,570 - would any NI be deducted at all?
ie they don’t.
That could be a good wheeze for some people!
All your income can be tracked.
And all your spending.
And all your tax payment.0 -
Except you ignore the fact these on old State Pension tend to be more generous with SERPs and so on. We who will eventually retire in few decades are the real loser on this since we are in ever increasingly dire retirement provision environment.MarzipanCrumble said:What I think is more scandalous is that the old SP and the new SP will not rise at the same rate so that all on the old SP will fall behind quite considerably as the years progress.1 -
Think we have gone drastically off topic!3
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We haven’t. There isn’t an endless pot of government money; and these WASPI claims will only place more strain on things.Troytempest said:Think we have gone drastically off topic!
More people need to pay more tax and take less freebies. Otherwise our kids and grandkids will be totally screwed.3
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