Re: New PM
 

I've often wondered why should there be an 'upper earnings limit' on National Insurance Contributions?

- however I also believe what you pay in NIC should reduce your liability for Income Tax :shrug:

Otherwise it is all 'jam tomorrow' - dependent on whether they get re-elected???

Re: New PM
 

I wondered why we as a nation havent progessed in the last 20 years!

---------- Post added at 22:12 ---------- Previous post was at 22:11 ----------

Why, you taking a pay cut ;)

Re: New PM
 

Brown/Saxon, any parity? lol

Re: New PM
 

Because theres a pensions limit? All other services are he same regardless of what you earn

Re: New PM
 

Not that anyone my age will ever get a state pension anyway!

Re: New PM
 

Probably because, notionally, NI contributions are supposed to pay towards certain benefits (maternity benefit, widow's pensions) & the NHS. In order that HMG can claim it's not a tax the total possible contribution per person is capped.

Note that the link said the upper earnings limit is going to be raised by £75 a week in 2008 i.e. you'll pay contributions on more of your salary.

In 2009 the upper earnings limit & the higher rate tax threshold will be aligned i.e. you'll pay 11% of your salary from the lower earnings limit all the way up to where the 40% tax rate kicks in (at the moment the upper limit is lower than the higher rate threshold). After that you pay 1% NI on the rest of your earnings, effectively making the higher tax rate 41%...

Re: New PM
 

Do you think your ever going to be able to retire anyway!!! You'll be the slave of some weathly Indian Baron who owns 100's of call centres, but you wont be able to work in the call centre as you dont speak Cockerney ;)

Re: New PM
 

I get nowhere near an higher income tax rated salary, and pay, proportionately, more for my NIC than an higher rate tax payer does, was my beef ;)

Re: New PM
 

It makes me wonder if most people in this thread that are moaning about the departed Blair, and now his successor Brown, would rather have Cameron running the country? If not who else?

Re: New PM
 

I'd would rather have Cameron running the country, although I'd be cautious.
Would be hard pressed to do worse.
If it wasn't for expenses, thanks to Brown's last budget, my income has had nearly a third knocked off it.

Re: New PM
 

Not a man to trust.. too inclined to u turn in my opinion.

Frankly there is not a politician in any of the main parties I would vote for at the moment...Well not happily.

Re: New PM
 

I totally agree, we have to choose from the best of a bad bunch, hopefully things will change soon in the future.

Near Utopia would be living within our means and managing to save for family holidays without going broke.

Re: New PM
 

I think it spoke volumes that Blair got a standing ovation by all parties at the last PM QT.

It showed that all the politicians are all in the same back slapping boys club, and that they are all so nearly identical that it really wouldn't matter a jot if it's Labour, Tory or Lib Dem in power, because they are all the same.

Re: New PM
 

Sure that wasn't a reaction of relief? That finally he was going and a new phase was starting? Well only for them..things will pretty much stay the way they have always have for us plebs.:rolleyes:

Re: New PM
 

Isnt it heart warming to get a pay rise and then due to the changes in the tax system take home substantially less money.
Removing the lower end of the tax bracket in the name of making it 'simpler' is just a joke, i'm so glad that all my funding comes via grants and so i dont pay any tax on it what so ever. I'm sure that will be changed soon enough as we cant have people not paying tax through the nose now can we.