Finance & Tax

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

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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 […]

Workers’ Guide to Private Health Insurance

Private health insurance has been an option for many years in the UK. Insurance companies run major advertising campaigns to promote the benefits of their products. It’s necessary to be cautious, though. Private health insurance provides a way to find prompt solutions to many medical problems; but it does not cover every aspect of health. […]