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National Insurance Contribution

 
#1 National Insurance Contribution
08/01/2011 05:38

not from uk

please see my thread 70132, i moving to uk soon. i have a query on uk national insurance, is the contribution by me and employers both included in my base salary ? or is it different, my hiring person at the mc got confused and tell me yesterday he will tell on monday, i think people in group can give me clear picture, thank you.

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#2 RE: National Insurance Contribution
08/01/2011 06:34

anon to not from uk (#1)

Your contribution will be deducted from your base salary figure by your employer for payment directly to HMRC; the employer contribution sits outside your pay figure and, while you will usually see the figure noted on your pay slips for information it won't be deducted from your pay.

The easiest way to understand it is with an example. Go to http://listentotaxman.com/ and enter your headline base salary figure - it will tell you how much you will actually receive in your bank account to spend.

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#3 RE: National Insurance Contribution
11/01/2011 04:44

not fro uk to anon (#2)

anon very much thanks, how much do you can think is the death in service benefit contribution amount per monthly? my base salary is pound 62500 per year.

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#4 RE: National Insurance Contribution
11/01/2011 08:31

MacD to not fro uk (#3)

You may find your employer pays for this directly as part of your benefits package.

It is a non-taxable benefit and usually worth 4*base salary.

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#5 RE: National Insurance Contribution
14/02/2011 11:35

confused to MacD (#4)

What about a fixed 'car' allowance (even tho i don't use/need a car) which they pay on top of my base - is the allowance subject to both NI and Tax?

cheers

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#6 RE: National Insurance Contribution
14/02/2011 11:57

rc to confused (#5)

yes, anything that looks cash equivalent will get hit with tax and NI

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#7 RE: National Insurance Contribution
14/02/2011 12:06

confused to rc (#6)

thx for the info - I don't understand why they are splitting my 20% rise as only 10% basic pay increase but also another +10% as a new 'car allowance' cash payment?

Is this common? I'm a bit confused as to whether I should push back etc ...

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#8 RE: National Insurance Contribution
14/02/2011 12:12

Bob to confused (#7)

Perhaps because next year's bonus and pay rises are calculated as a percentage on your base pay.

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#9 RE: National Insurance Contribution
14/02/2011 12:22

DCF to Bob (#8)

Two reasons:

1. They will offer a total cash package. As a car allowance is part of their benefits then part of your overall cash package will notionally be your car allowance, and part will be your core salary. Generally it's up to you what you spend it on. It's just cash all the same, and the total figure is what you are interested in.

2. Your car allowance is not pensionable. So the 4% or whatever they put in your pension is 4% of the base salary not 4% of the total. Same may apply to bonuses as previous poster says. In some ways this is just a cheeky way of reducing the cost of employing you.

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