N.I Query
ajmckell
Registered Posts: 7 New contributor 🐸
Hi
Just a very quick question. If I wanted to work out the employers N.I contribution for the month before all the payrolls are finalised would it be a sum as simple as multiplying the gross wage cost by 12.8% or am I making it to simple?
Many Thanks for anyones help
Andy
Just a very quick question. If I wanted to work out the employers N.I contribution for the month before all the payrolls are finalised would it be a sum as simple as multiplying the gross wage cost by 12.8% or am I making it to simple?
Many Thanks for anyones help
Andy
0
Comments
-
If it is just a budget you are preparing for, then that is fine.
The actual figures are different though as there is a lower earnings limit that needs to be taken into consideration of £421 per month. The Employers NI would be 12.8% of all gross wages over that (and also depends on which NI category the employee is under).
http://www.hmrc.gov.uk/paye/rates-thresholds.htm0 -
It is just for a rough overall amount.
Thank you0 -
The employers charge only kicks in at the earnings threshold of £476 a month so even as a rough guide it will be significantly over estimated.
But again, it all depends on the purpose of the figure.
Payrollpro0
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