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NIC contributions and Tax
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mamabuddah
Posts: 846 Forumite
in Cutting tax
Just cropped up in conversation...
If you are in receipt of an "Ill health" retirement pension approx £13k...I assume you pay tax at the normal rate etc...but what about NICs...seems a bit confusing as its not earnings as such not at official retirement age yet either
If you are in receipt of an "Ill health" retirement pension approx £13k...I assume you pay tax at the normal rate etc...but what about NICs...seems a bit confusing as its not earnings as such not at official retirement age yet either
No two ways about this one: Anything Free is not a Basic Right..it had to be earned...by someone, somewhere
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you dont pay NI on a pension0
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I'm sitting here smirking...thats what I said...but someone???...(Joan...if you read this!)...no names....lol....said everyone until retirement age has to pay NIC on income...they did say it was slightly different if you were also self employed and had an income on top of a pension but I said your contributions in that case are based on profit, not turnover...
I'm beginning to have doubts now
see what comes of sitting watching the budget and trying to drink a few bottles of wine before the price goes up! No two ways about this one: Anything Free is not a Basic Right..it had to be earned...by someone, somewhere0
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