The distinction between income tax and NI is meaningful when it comes to collection. They’re both taxes though, just different types of tax.
Look for the word ‘tax’ in your dictionary of choice. NI fits that definition.
State pension - filling gaps in National Insurance contributions
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The distinction between income tax and NI is meaningful when it comes to collection. They’re both taxes though, just different types of tax.
Look for the word ‘tax’ in your dictionary of choice. NI fits that definition.
You said it fits any meaningful definition. I pointed out a very meaningful definition where that is wrong. Don't blame me for you being wrong!
You can only claim when you reach state pension age.
To claim the full amount you have to have made 35 years of contributions. Many willl make far more contributions but there's no option to stop when you reach 35 years.
I said NI fits any meaningful definition of the word ‘tax’.
if you want to continue to insist that there is a meaningful definition of the word ‘tax’ that NI doesn’t fit into, please show me that dictionary and cite how they define tax, and explain how NI doesn’t fit that description.
I've already pointed out a definition of the word tax that NIC doesn't fit by reference to The Limitation Act 1980.
Just because you want to ignore the counter point doesn't make it go away.
Well by your logic I can say VAT is not a tax because it doesn’t fit into the definition of income tax.
No, that would be wrong. But if you said VAT isn't a direct tax you'd be correct.
Nope.
I've paid my 35 years, still have 12 years to go before I retire and can claim it. Still paying it though.
Put money into a private pension as soon as you can kids...
Just like you were wrong about NI. This is getting boring now, so let’s move on.
No, this is fun. Feel free to continue to argue about technical aspects of taxation with a tax professional though.
That’s why it got boring.
I guess NI is a tax then. Otherwise you wouldn’t have called it technical aspect of taxation
It got interesting again I guess NI is a tax then. Otherwise you wouldn’t have called it technical aspect of taxation
It's important to know the tools at your disposal when HMRC comes knocking on your clients' doors.
I always though they break the door. Good to know they’re polite enough to knock first.
They are polite nowadays, and it's always nice to point out time limits to them. Makes conversations substantially shorter.
So now to the more important stuff. How do I pay less tax? And I include NI in that question.
Make less money, go invest in EIS/SEIS companies, save into pensions. Lots of ways really.
Those I already knew
What it qualifies you for is all that matters in this context. You get NHS whether you pay NI or not it's funded from general taxation, not NI exclusively.
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I paid mine off 10 years ago and I've got another 4 to go before I can claim it.