A question about : P/T work and NI (LEL).
hi.
I have done some research and think I have it correct but would like confirmation as I am confused as to the final option/s.
this is for my OH (female), early 40's.
she has worked since 16, 1st 2 years YTS (remember those?)
other than that full time but has just taken a year off work by choice but started a new P/T job 3 weeks ago.
she will earn Ј104 per week rising to Ј112 per week shortly.
this is where my research kicked in.
I understand NI is not payable under Ј153.00
is she not going to get any NI credits on her account? the current LEL is Ј111 but rising to Ј112 in 15/16?
so where as allowances rising means less tax/NI payable the LEL rising takes more people out of receiving NI credits?
also, as NI is a weekly tax if someone earned for example Ј120.00 one week but Ј100.00 in the next week how does that effect things?
is her only option if she cant get a couple more hours to pay Ј13.90PW voluntary?
Ј0.00 or Ј13.90 seems steep with no options in between?
any advice appreciated.
Best answers:
- thanks for the replies so far.
I think best thing to do is do one of those pension forecast requests to start. anyone got any idea how long they are taking?
easiest solution would be to see if new employer can give her an extra couple of hours a week.
weekly will be Ј112.00 in a few weeks so just scrapes her in(LEL), for now.
so regarding weeks that Ј112.00 isn't earnt!
e.g
earns Ј112.00 (or more with overtime) for 44 weeks, but slightly under for 8 weeks.
would that not count as a full year for earning NI credits under the (LEL)? Is the only way to fill missing weeks to still pay Ј13.90 on those weeks?
ref self employment. is it actually legal to register as self employed/self assessment for the reason of paying Ј2.75pw class 2? would she have to earn a minimum amount as S/E and do any particular work?
thanks again. - https://www.moneysavingexpert.com/fam...106.1417952093
Lots of suggestions here for starting as self employed.
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