NI contributions ceiling?
Discussion
A basic question but i can't find anything definitive using the normal searches, including on My HMRC or whatever it's called
Is there a limit on NI contributions, regardless of income?. In years gone by I know that i have claimed and received refunds as i had multiple employers and total contributions exceeded what i assume was a maximum.
I'm returning to some employment over the summer months but quite keen not to pay more than i should (or at least to know if i should be attempting to claim a refund at years end). if it matters, it'll be short term rolling contract but definitely an "employee"/PAYE
Is there a limit on NI contributions, regardless of income?. In years gone by I know that i have claimed and received refunds as i had multiple employers and total contributions exceeded what i assume was a maximum.
I'm returning to some employment over the summer months but quite keen not to pay more than i should (or at least to know if i should be attempting to claim a refund at years end). if it matters, it'll be short term rolling contract but definitely an "employee"/PAYE
https://www.gov.uk/national-insurance-rates-letter...
So roughly 8% upto 5k a month, then 2%.
If you had 3 jobs, each paying 5k a month, each employer would deduce 8%, because of course, they look at you in isolation. But actually you only pay 8% on the first 5k, and 2% on the remaining 10k.
Is that what you mean?
So roughly 8% upto 5k a month, then 2%.
If you had 3 jobs, each paying 5k a month, each employer would deduce 8%, because of course, they look at you in isolation. But actually you only pay 8% on the first 5k, and 2% on the remaining 10k.
Is that what you mean?
snuffy said:
If you had 3 jobs, each paying 5k a month, each employer would deduce 8%, because of course, they look at you in isolation. But actually you only pay 8% on the first 5k, and 2% on the remaining 10k.
That's correct in theory, but if you try claiming back the "excess" which I tried, HMRC will tell you that each calculation/deduction is correct, and will refuse your claim. Gassing Station | Finance | Top of Page | What's New | My Stuff