Finance

Employer’s Liability Insurance, The Basic State Pension – Qualifying

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Getting Credit or Bank Loans When Self Employed

It was not so long ago that those who were making a good living as a self-employed person would find it extremely difficult to obtain credit in the form of a bank loan or some other means of finance. Fortunately today, there has been a positive shift in lenders’ opinions about this. Changes in Perceptions […]

Commissions, Tips And Gratuities

Many businesses offer incentives to their workforce to increase productivity or to provide a better service to customers. There are various methods of inducement which businesses can use and if you decide, as an employer, that some element of performance related pay or incentive will help your business prosper further, you will need to find […]

National Minimum Wage

Since April 1999 the Government has set a minimum level of pay for workers in the UK, to help prevent the exploitation of staff and set a level playing field for employers. The National Minimum Wage is now a legal right for most people working in Britain and employers are not allowed to pay any […]

Easy Guide to the New Pension Rules 2015

From April 2015 the rules relating to the use of your pension changed. If you are aged 55 or over, you are now able to access and use your pension pot in any way you wish. This is to provide you with more flexibility and choice about how your pension is used, and hopefully encourage […]

Pension Schemes

If you earn more than the National Insurance lower earnings limit (£157 per week in tax year 2017-18) and if there are five or more employees where you work, your employer is normally required to offer you the chance to join a company pension scheme. They must provide access to a stakeholder pension unless they […]

PAYE and the UK Income Tax System

You pay tax on your wages through a system called Pay As You Earn, more commonly known as PAYE. Your employer uses this system to deduct Income Tax and National Insurance contributions before they pay you. The amount you earn before tax and national insurance deductions have been taken into account is your ‘gross salary’. […]

UK National Insurance Scheme Finance

The purpose of National Insurance is to allow each person in the UK the chance to amass contributions for state benefits. These benefits are: Bereavement Allowance; Contribution-based Jobseeker’s Allowance; State Pension; Contribution-based Employment and Support Allowance. The amount of contribution the government expects people to pay varies. It depends on the level of income, and […]

The Basic State Pension – Qualifying and Claiming

The basic state pension is a government administered pension based on the number of qualifying years gained through National Insurance Contributions (NICs) you’ve paid, are treated as having paid or have been credited with throughout your working life. Qualification For Basic State Pension The current state pension age for men is 65. For women born […]