NI increases kick in this month.. the masses are in uproar.

[weeksy]

I must admit i'm half (maybe more) laughing as over on the cycling forum, one of the fellas is complaining that NI increases have hit him for £200 a month..

Which means a yearly income of £175k+.... I mean really ? you're complaining that it's hitting you and you're earning that !

I get that some people are struggling, but in the UK and in our little forum middle class bubbles, well, we're massively lucky aren't we !

[v8-powered]

Hits people that work through an umbrella company worse as have to pay both employee and employer NI plus the new increases. That does sting a bit....

[KungFooBob]

I got my payslip this morning, I'm about £75 down from usual.

[Le_Fromage_Grande]

I think I worked it out at about £100 down a month, it's not the end of the world, and someone has to pay for all the lazy feckers who got furlough for the last two years

[Cousin Jack]

................................ and someone has to pay for all the lazy feckers who got furlough for the last two years

That's the bit that the moaners forget. NI may sting, but getting laid off with nothing for 2 years would have stung more.

[gremlin]

I did notice that whilst Mrs. Gremlin and I were having our monthly money fight after both being paid, that the heap of £20 and £50 notes did seems a trifle smaller, only filling the east wing ballroom to just above the waists.....

Times are indeed hard.


Edit: just checked this month's vs. last month's payslip. Bit of a shit in terms of the NI rise, but yeah, I'm with Weeksy. If you see a big increase, you must be earning it, so be grateful for that problem.

[wheelnut]

Hits people that work through an umbrella company worse as have to pay both employee and employer NI plus the new increases. That does sting a bit....

Or if you happen to be an employer. I've got a piss pot little business with a couple of employees. The amount the revenue generates from me one way or another is scary.

[Mr. Dazzle]

[demographic]

Well at least the money it raises will just about cover the estimated 12 billion worth of furlough fraud that the treasury can't be trashed to investivate.

I'm sure they'll be a good honest reason why they don't...

[G.P]

Well at least the money it raises will just about cover the estimated 12 billion worth of furlough fraud that the treasury can't be trashed to investivate.

I'm sure they'll be a good honest reason why they don't...

If its an estimate and they can't be arsed to investigate I'd suggest 12 billion was plucked from the air, or was the total.
But hey, what about the actual Furlough? it seems we easily forget that 80% of salaries were funded through lock down. Anyone who thought this wasn't going to be funded by taxes after the event is a fantasist.
I owned a Ltd and could have taken a £25k interest free loan as a small business but didn't. of the various people I know who did, all used it positively though

This April is my first in 12 years as a PAYE earner, I'm still adjusting to the joy of 5 weeks holiday, not having to do VAT returns and P&L accounts rather than worrying about NI. I'm earning about £30k less than I used to, but all these decisions are voluntary (OK IR 35 may have helped!)

Each to their own x

[demographic]

Well at least the money it raises will just about cover the estimated 12 billion worth of furlough fraud that the treasury can't be trashed to investivate.

I'm sure they'll be a good honest reason why they don't...

If its an estimate and they can't be arsed to investigate I'd suggest 12 billion was plucked from the air, or was the total.
But hey, what about the actual Furlough? it seems we easily forget that 80% of salaries were funded through lock down. Anyone who thought this wasn't going to be funded by taxes after the event is a fantasist.
I owned a Ltd and could have taken a £25k interest free loan as a small business but didn't. of the various people I know who did, all used it positively though

This April is my first in 12 years as a PAYE earner, I'm still adjusting to the joy of 5 weeks holiday, not having to do VAT returns and P&L accounts rather than worrying about NI. I'm earning about £30k less than I used to, but all these decisions are voluntary (OK IR 35 may have helped!)

Each to their own x

Might be worth a read.
https://www.theguardian.com/uk-news/202 ... -committee

[Horse]

Or:
https://www.dailymail.co.uk/news/articl ... error.html
Or the Times if the thought of DM gives you palpitations
https://www.thetimes.co.uk/article/suit ... -wcnnjd7r8

https://www.bbc.com/news/business-59761294

[Cousin Jack]

Hits people that work through an umbrella company worse as have to pay both employee and employer NI plus the new increases. That does sting a bit....

Or if you happen to be an employer. I've got a piss pot little business with a couple of employees. The amount the revenue generates from me one way or another is scary.

Yes, all UK Governments really know how to tax, and their agent HMRC is never averse to pushing the envelope to maximize the tax take. If only we had a low tax government like some other countries ...............

........but then we would probably have no NHS, no Benefit system, no free school meals, no (insert your own favourite taxpayer-funded perk).

I reckon that overall if I had lived my life in a low tax, minimum cost state I would be at least as well off, and probably better off, but I also recognize that many millions would not, and for the people at the bottom of the pile life would not just be hard, it would be impossible. They would die, simple as.

[wheelnut]

Hits people that work through an umbrella company worse as have to pay both employee and employer NI plus the new increases. That does sting a bit....

Or if you happen to be an employer. I've got a piss pot little business with a couple of employees. The amount the revenue generates from me one way or another is scary.

Yes, all UK Governments really know how to tax, and their agent HMRC is never averse to pushing the envelope to maximize the tax take. If only we had a low tax government like some other countries ...............

........but then we would probably have no NHS, no Benefit system, no free school meals, no (insert your own favourite taxpayer-funded perk).

I reckon that overall if I had lived my life in a low tax, minimum cost state I would be at least as well off, and probably better off, but I also recognize that many millions would not, and for the people at the bottom of the pile life would not just be hard, it would be impossible. They would die, simple as.

Yeah, I don’t really disagree with any of that. My main point was that the normal PAYE tax payer would be shocked at the tax burden on a (even a small) business. Generally people think that self employed/business owners get away with murder when it comes to tax. If only it were so!

[Cousin Jack]

................ Generally people think that self employed/business owners get away with murder when it comes to tax. If only it were so!

A few do, and those are the ones that people notice. Businesses that never seem to make any significant profit (in the accounts anyway) but the owners manage to enjoy an enviable lifestyle.

[Asian Boss]

Hits people that work through an umbrella company worse as have to pay both employee and employer NI plus the new increases. That does sting a bit....

That'll learn them for their tax fiddling ways. Which are like stealing kidney dialysis machines from hospital children's wards.

[KungFooBob]

Did you hear the one about the sarcastic dialysis machine?

It took the piss.

[Cousin Jack]

That'll learn them for their tax fiddling ways. Which are like stealing kidney dialysis machines from hospital children's wards.

Yes, tax fiddling bastards. And they get lots of other benefits too, no paid holidays, no pension apart from what they contribute, no sick pay, no security of employment.

[Jody]

In my head NI is supposed to be for things like the NHS, Unemployment benefit, sick pay etc.
If this rise was going to lead to nurses getting paid 15% more 'people' probably wouldn't mind.
When it's paired with critical underfunding of the NHS, people get the hump !

I have to say this doesn't affect me twice. Firstly as I'm on a French contract so don't pay NI, secondly my wages are agreed at a "take home" rate so increases like this pas me by !

[weeksy]

In my head NI is supposed to be for things like the NHS, Unemployment benefit, sick pay etc.
If this rise was going to lead to nurses getting paid 15% more 'people' probably wouldn't mind.
When it's paired with critical underfunding of the NHS, people get the hump !

I have to say this doesn't affect me twice. Firstly as I'm on a French contract so don't pay NI, secondly my wages are agreed at a "take home" rate so increases like this pas me by !

Well at this stage, we don't know where it'll go.... but i honestly wonder if anyone knows exactly where it'll go or whether it all just gets thrown into the big pot and allocated out.

If there was a directly associated account and the public could see where/how exactly it's spent, i think that would make people a lot happier.

But that's an unrealistic expectation i think