We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
NIC contributions and Tax
mamabuddah
Posts: 847 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
0
Comments
-
you dont pay NI on a pension0
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.7K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.2K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards