Whats the NI rate?
Discussion
I've been a Ltd for a year now and have been paying for decent IR35 proof contracts. But I cant seem to find out why. I understand the taxation differences between paying myself shares, but I'm lost with the NI calcs. As a Ltd, would I have to pay 12.8% employers NIC [u]plus[/u] the 11% employees NIC? Hence basically shed loads?
kryten22uk said:
I've been a Ltd for a year now and have been paying for decent IR35 proof contracts. But I cant seem to find out why. I understand the taxation differences between paying myself shares, but I'm lost with the NI calcs. As a Ltd, would I have to pay 12.8% employers NIC [u]plus[/u] the 11% employees NIC? Hence basically shed loads?
Yes. Income above the threshold pays personal NI @ 11% and company NI @ 12.8%.The rates do change slightly for higher earnings.
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