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Old 15th July 2015, 12:28 PM
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Posts: 36,100
Default Re: National Insurance Company UK

National Insurance in United Kingdom is a system of contributions paid by employers and workers towards the cost of certain state benefits.

Government Departments
HM Revenue and Customs
HM Treasury
Revenue Scotland

Central Government
Income tax
Inheritance tax
Stamp duty
Insurance Premium Tax
Air Passenger Duty
National Insurance
Corporation tax
Capital gains tax
Motoring taxes

Local Government
Council Tax
Domestic rates in Northern Ireland
Business rates in England and Wales
Business rates in Scotland

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Contact Details :
National Insurance
Benton Road, Newcastle upon Tyne NE98 1ZZ, United Kingdom
+44 191 203 7010
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Old 19th February 2016, 01:53 PM
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Default Re: National Insurance Company UK

Hello sir, tell me why do we pay national insurance? It’s necessary to pay national insurance fund to national insurance company UK?
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Old 19th February 2016, 01:54 PM
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Join Date: Apr 2013
Posts: 61,184
Default Re: National Insurance Company UK

Thos person pay their national insurance that have a job, then they pay National Insurance.

It is taken out of their salary depending on how much person earn, similar to income tax.

But because it isn't called a tax, governments can say they haven't increased income tax even though they've put up National Insurance.

You pay National Insurance contributions to qualify for certain benefits including the State Pension.

You pay National Insurance if you’re:

16 or over
An employee earning above £155 a week
Self-employed and making a profit of £5,965 or more a year

Applicant needs a National Insurance number before they can start paying National Insurance contributions.

If person earn between £112 and £155 a week, their contributions are treated as having been paid to protect their National Insurance record.

Labour is planning to increase how much both employers and employees pay.

The Government Actuary estimates the 2012-13 results for the National Insurance Fund to be as follows:
£ billions (2012/13) Payments Income
Retirement pensions (including Christmas bonus) 79.321
Widows'/Bereavement benefits 0.571
Incapacity Benefit 2.591
Unemployment benefit & support 3.463
Maternity allowance & guardians allowance 0.373
Administrative costs & transfers 4.693
Total 91.012 84.263
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