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National Insurance
Former Member
Posts: 1,876,323 The Mix Honorary Guru
in Work & Study
Hey there
I was always under the impression that everyone pays NI on their wage, and you dont get any back or anything...
however I was reading in the Daily Mail a few weeks ago and they said you get the NI on the first few thousand you earn back? Seemed odd but I can't find out how to do this!
Anyone know anything about it?
I was always under the impression that everyone pays NI on their wage, and you dont get any back or anything...
however I was reading in the Daily Mail a few weeks ago and they said you get the NI on the first few thousand you earn back? Seemed odd but I can't find out how to do this!
Anyone know anything about it?
0
Comments
This is the standard tax system used by employers.
Basically everyone has a personal allowance. This is an amount, dependant on circumstances, which is allowed tax free for each financial year.
For example, (These are made up figures)..my tax code indicates that I have a tax free allowance of 4500, so that is calculated against my yearly salary and not taxed..so say I didn't work for three months, that's three months I have not had an income, and am therefore entitled to three months tax back..etc etc..
If you want more info check out www.inlandrevenue.gov.uk