News: January 2014

NI

Class 3A voluntary national insurance contributions

From October 2015 this new class of voluntary NICs will be introduced to give those who reach State Pension age before 6 April 2016 an opportunity to boost their Additional State Pension. This is because they will not be able to benefit from the new single tier pension which comes in then.

Employer NICs for the under 21s

From April 2015 the employer NIC for those under the age of 21 will be abolished. This exemption will not apply to those exceptionally earning more than the Upper Earnings Limit (UEL), which is £42,285 for 2015/16. Employer NIC will be liable as normal beyond this limit.

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