15-03-2017, 10:59 PM
41
Re: Tories scrap NICs Increase.
Originally Posted by Morticia
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Spot on .. go self-employed and rest comfy in the knowledge that when you're ill you get no pay (unless you take out Keyman Insurance) .. Bank Holiday? Of course you can, just no pay. Want to go on a holiday? Do it in your own time. Lose a customer and have a few free days? Ah, tough luck that's the dog eat dog world of free enterprise and the brave budding entrepreneur.Don't fancy it? Get yourself an employer with all the benefits rolled in with the job and if the routine gets too arduous just call in and take a sickie once in a while.
15-03-2017, 11:30 PM
43
Re: Tories scrap NICs Increase.
Originally Posted by Old Dog
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But that's the point.....N.I. predominantly goes towards the State Pension and we all get that, employed and self employed.....or would the self employed be happy getting a little less?
15-03-2017, 11:56 PM
45
Re: Tories scrap NICs Increase.
Originally Posted by Old Dog
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No I don't but I think they should pay in what is equitable and currently they don't.
16-03-2017, 12:02 AM
46
Re: Tories scrap NICs Increase.
Originally Posted by morticia
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Spot on .. Go self-employed and rest comfy in the knowledge that when you're ill you get no pay (unless you take out keyman insurance) .. Bank holiday? Of course you can, just no pay. Want to go on a holiday? Do it in your own time. Lose a customer and have a few free days? Ah, tough luck that's the dog eat dog world of free enterprise and the brave budding entrepreneur.Don't fancy it? Get yourself an employer with all the benefits rolled in with the job and if the routine gets too arduous just call in and take a sickie once in a while.
16-03-2017, 12:07 AM
47
Re: Tories scrap NICs Increase.
Originally Posted by Julie1962
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I see what you mean but I'd simply make pensions means tested, take them away from people don't need them that won't always be self employed but I'm willing to bet at end of the day they will be more able to save for retirement than those of us employed !
16-03-2017, 12:20 AM
48
Re: Tories scrap NICs Increase.
Originally Posted by Old Dog
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No I don't but I think they should pay in what is equitable and currently they don't.
Self-employed... from the horse's mouth (UK Gov)
The Class 2 contributions you pay count towards your State Pension.
One Class 2 contribution is equal to one week’s earnings of at least £112 a week. (bearing in mind that .. for an employee who earns £112 to £155 a week - they don’t actually pay NI contributions on that amount but are treated as if they did so and it counts towards their NI record and therefore their Pension)...
whereas a self-employed person who falls below that can get an Exemption Certificate they rarely do as they will be short on their contributions so they tend to pay voluntarily anyway to keep their record upto date for their pension.
The Class 4. .. once again from the horse's mouth.
If you make £8,060 or more in profit, then you will also be liable for Class 4 NI contributions (but Class 4 contributions do not count towards your State Pension).
https://pensionslatest.blog.gov.uk/2...state-pension/
So why raise Class 4 ?
It really is a matter of if the government intended to raise Class 4, and take with one hand, they'd have to give it with the other .. that is to say put self-employed on a level playing field regarding all state benefits. State Pension is nothing to do with it.
They're just looking around for another cash cow and after today's U-turn will target someone else.
16-03-2017, 12:28 AM
49
Re: Tories scrap NICs Increase.
Originally Posted by Judd
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That depends on the job - some self-employed just manage to earn enough to pay their way.
I think that's the norm Judd. Not many self employed become self made millionaires.
16-03-2017, 03:35 AM
50
Re: Tories scrap NICs Increase.
Originally Posted by Tpin
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Self-employed should pay more....to make up for the tax fiddles.Bloomin plumbers and heating engineers are the worst
To be fair I was self employed for 35 years
Figures are general and only given as an example but say
In one year I would pay NI say £7 a week.
The employed would only pay NI £3 a week
But the employer would then also have to pay NI £10 week for the employed person
When retiring we get the same benefits.
PS this tax was stated that it would bring in £150 million
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