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2 minutes ago, Non-Believer said:

Are we talking % PS pay rises here? There's been regular % increments in the last 5 years alone including a significant above inflation one 3 years ago. Plus the back date lump sums to allow for delayed implementation. PS pay is well ahead of a lot of private sector pay in many cases.

I did post a link which you clearly havent seen. The figures are published on the Gov website.

2013 0.5% IOM RPI 2.8%

2014 2.00 IOM RPI 2.6%

2015 2.00% IOM RPI 2.2%

2016 2.20% IOM RPI 4.5%

2017 2.30% IOM RPI 7.4%

2018 55p per hour IOM RPI 5.4

I'm all for a bit of lynching but need the facts first

RPI is here btw https://www.gov.im/media/1360683/2020-03-inflation-historic-datasets.pdf

God I wish the pub was open.

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Posted (edited)
9 minutes ago, Scotty said:

We pay 20% on every penny we earn, (I think ) many others don't.

Self-employed pay 20% when sub-contracting. Do 4 months subbing and you're on for a rebate.

Self employed NI (class 4) is 8% on profit over ~£6500 plus £20ish a month in class 2's.

Although wasn't the plan for next year to drop the class 2 and increase the class 4? 

Edited by TheTeapot

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9 minutes ago, Scotty said:

But would a self employed person be entitled to unemployment benefit, sick pay, holiday pay, etc. etc. 

We pay 20% on every penny we earn, (I think ) many others don't.

NI has nothing to do with the things you mentioned really.

Self employed dont pay 20% either.  They get the same tax allowances as everyone else?

 

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8 minutes ago, Scotty said:

But would a self employed person be entitled to unemployment benefit, sick pay, holiday pay, etc. etc. 

We pay 20% on every penny we earn, (I think ) many others don't.

A[art from the cash jobs obvs :D

Roughly the amount of NI paid by an employee and a self employed worker (assuming they earn similar amounts) is the same.

An employer however is required to pay additional NI on behalf of their employees. When this is paid, the NI arising from an employee is more. The amount out of trhe pocket of each worker though is broadly similar.

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1 minute ago, TheTeapot said:

Self-employed pay 20% when sub-contracting.

Self employed NI (class 4) is 8% on profit over ~£6500 plus £20ish a month in class 2's.

Although wasn't the plan for next year to drop the class 2 and increase the class 4? 

I don't sub contract and am paying 20% on each quid earned. I am paying about £68 per month  "stamp". I also don't earn much more than the figure you quote. as I only work part time.

I may be better off working in a shop.  

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1 minute ago, The Dog's Dangly Bits said:

NI has nothing to do with the things you mentioned really.

Well they do, JSA/incapacity is directly tied to your stamps.

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4 minutes ago, The Dog's Dangly Bits said:

NI has nothing to do with the things you mentioned really.

Self employed dont pay 20% either.  They get the same tax allowances as everyone else?

 

Will have to check again then.

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Just now, Scotty said:

I don't sub contract and am paying 20% on each quid earned. I am paying about £68 per month  "stamp". I also don't earn much more than the figure you quote. as I only work part time.

I may be better off working in a shop.  

You might want to look into your situation a bit further then, because you certainly don't need to be paying 20%, although pay it now and you don't get a bill later. And £68 stamp? What's that all about? Class 2 NI, which self employed pay monthly, is £5.40 a week.

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4 minutes ago, Scotty said:

I don't sub contract and am paying 20% on each quid earned. I am paying about £68 per month  "stamp". I also don't earn much more than the figure you quote. as I only work part time.

I may be better off working in a shop.  

You would get a tax rebate surely?

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Posted (edited)
3 minutes ago, TheTeapot said:

You might want to look into your situation a bit further then, because you certainly don't need to be paying 20%, although pay it now and you don't get a bill later. And £68 stamp? What's that all about? Class 2 NI, which self employed pay monthly, is £5.40 a week.

Class 4

I need to check up on my tax.

Edited by Scotty

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Just now, Scotty said:

Class 4

You normally pay your class 4 after the end of the tax year, when you've done your accounts and worked out your profit. Otherwise how would anyone know how much to pay? Have you been self employed long? Maybe they've got you 'paying on account', although I thought they just did the income tax bit with that and not NI. Your situation sounds a bit strange. But on the bright side, if you're paying the 20% and somehow class 4s all year you will EVENTUALLY get a rebate.

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17 minutes ago, piebaps said:

I did post a link which you clearly havent seen. The figures are published on the Gov website.

2013 0.5% IOM RPI 2.8%

2014 2.00 IOM RPI 2.6%

2015 2.00% IOM RPI 2.2%

2016 2.20% IOM RPI 4.5%

2017 2.30% IOM RPI 7.4%

2018 55p per hour IOM RPI 5.4

I'm all for a bit of lynching but need the facts first

RPI is here btw https://www.gov.im/media/1360683/2020-03-inflation-historic-datasets.pdf

God I wish the pub was open.

Apologies, I posted without seeing your post, but we're singing from the same sheet. PS pay rises have been regular...to suggest that there's been no or insignificant rises since 2008 is a bit fanciful.

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Posted (edited)
17 minutes ago, TheTeapot said:

You normally pay your class 4 after the end of the tax year, when you've done your accounts and worked out your profit. Otherwise how would anyone know how much to pay? Have you been self employed long? Maybe they've got you 'paying on account', although I thought they just did the income tax bit with that and not NI. Your situation sounds a bit strange. But on the bright side, if you're paying the 20% and somehow class 4s all year you will EVENTUALLY get a rebate.

I think the confusion that some self employed have over this kind of thing is why so many have apparently fallen through the cracks with the new Coronavirus benefits. 

So many FB commenters were falsely claiming they pay more tax than employed people because they pay 20% on everything, and they can't pay their national insurance until after they'd had a bill at the end of the tax year so they weren't entitled to these benefits.

If you don't understand what your entitlement is, that isn't the governments fault. Go get independent advice. 

Edited by Feelslike
Sp.

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3 minutes ago, Feelslike said:

I think the confusion that some self employed have over this kind of thing is why so many have apparently fallen through the cracks with the new Coronavirus benefits. 

So many FB commenters were falsely claiming they pay more tax than employed people because they pay 20% on everything, and they can't pay their national insurance until after they'd had a bill at the end of the tax year so they weren't entitled to these benefits.

If you don't understand what your entitlement is, that isn't the governments fault. Go get independent advice. 

Urm.

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