How much NI to pay?
Discussion
Employees can currently put up to £60,000 into their salary sacrifice pension scheme per year, and the tax relief is available on the whole of that contribution. But Reeves is set to introduce a new threshold of £2,000, above which contributions will incur national insurance at the usual rates 8 per cent on salaries under £50,270 and 2 per cent on income above that. The Treasury estimates the move will raise £2bn per year. It would be the second national insurance blow to businesses after employers contribution rate was raised to 15 per cent in April and the threshold at which it is levied was lowered in a move that opponents dubbed the jobs tax
If the above comes into play and you salary sacrified 15k to to keep wage at 100k what extra NI would you be paying?
If the above comes into play and you salary sacrified 15k to to keep wage at 100k what extra NI would you be paying?
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