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5 days ago · National insurance (NI) is essentially a tax on everything you earn, or the profits you make if you’re self-employed. Paying it means you qualify for certain benefits, which include the State ...
1 day ago · The big move was a hike for employer national insurance contributions to raise £25billion. We list the big Budget moves below - follow the links to see what the changes mean for you.
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- Premiums. When you purchase an insurance policy, you'll be required to make regular payments, known as premiums. These payments are typically made monthly or annually and are the cost of maintaining your insurance coverage.
- Deductible. Think of a deductible as the money you have to shell out from your own pocket before your insurance kicks in to help cover your expenses. It's like the upfront cost you need to cover before your insurance really starts working for you.For example, if you have a $500 deductible and make a claim for $1,000, you'll need to pay $500, and your insurer will cover the remaining $500.
- Policyholder. The policyholder is the person who owns an insurance policy. This individual is responsible for paying premiums and making claims under the policy.
- Coverage Limit. Every insurance policy has a coverage limit, which is the maximum amount your insurer will pay out for a covered claim. It's crucial to understand your policy's limits to ensure you have adequate coverage.
4 days ago · From April, the national living wage for those over 21 will increase by 6.7% to £12.21 an hour. This represents a £1,400 pay rise for a full-time worker on the minimum wage. For workers aged 18 to 20, the minimum wage will rise from £8.60 to £10, representing a 16.3% increase – the largest such rise on record.
4 days ago · The rate of employer’s NI contributions (NICs) will increase by 1.2 percentage points to 15% from April 2025. The second hit to employers comes with the lowering of the secondary threshold (ST) which means employer’s will start to pay NICs on employees earnings from £5,000 instead of the current £9,100 threshold.
3 days ago · This means that a top rate of 17 per cent SDLT (or 19 per cent for non-resident purchasers) applies to that part of the purchase price exceeding £1.5m. The higher rate of SDLT which, very broadly, can apply to purchases of residential properties worth more than £500,000 by companies for non-commercial purposes, is to be similarly increased from a flat rate of 15 per cent to a flat rate of 17 ...
4 days ago · Reeves announces that employers' National Insurance contributions will rise from 13.8% to 15%. In addition, the threshold at which businesses start paying National Insurance on a workers' earnings ...