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Lower earnings limit for national insurance 2012

lower earnings limit for national insurance 2012

An amount set by the government for each tax year for the purposes of calculating National Insurance contributions (NICs) payable by employees. The upper earnings limit (UEL) for /21 is £ a week. An employee must pay NICs at rate of 12% of earnings between the primary threshold and the UEL, plus 2% of earnings above the UEL. His employer must pay NICs at rate of % of the employee's. National Insurance (NIC) Rates – /12 This is the /12 NICs table. The employers’ NI rate has increased by 1% to %, and the main Class 1 rate for employees has risen from 11% to 12%. d) The Upper Earnings Limit (or UEL) (£ per week for /21). For high earners who are paid over the Upper Earnings Limit, the National Insurance rate falls. On earnings above this limit, the employee pays a lower rate of 2%.The Employer continues to pay the standard rate of employer’s National Insurance (%) on these earnings. e.

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4 thoughts on “Lower earnings limit for national insurance 2012

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