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| *The Commerce Journal>>>United Kingdom Taxes |
I am 16 and wanted to know should i be paying National Insurance Contributions ? |
i have been at my job for three months now earning over 拢100 pounds a week and they are not even paying me the minimum wage which i am not happy about also i have not paid any NIC are they up to something ??? NIC is calculated on a different basis to tax. Tax is done on a yearly amount, but NIC on a week/monthly basis depending on how you are paid, irrespective of your annual earnings. When I stated work in 1964, under 18s didn't pay contributions, but things changed several years ago. once you become employed you become liable to this tax, but it depends on your income, when you started work, on a number of factors, I would leave this to your employers to deal with. Probably. Those thieving bas*ards would take NICs from babies if they could! if you work yes no u shouldnt do that till ur 18 You pay NI contributions if you are an employee or self-employed, are aged at least 16 but below state pension age (currently 65 for men and 60 for women, but these ages are changing) and earn above a certain level. For employees, the earnings level for the tax year 2007/08 is 拢100 or more a week (full details of rates can be found at http://www.hmrc.gov.uk/rates/nic.htm). |
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