How Many Years do I have to pay National Insurance to get full state pension?
Your State Pension will be calculated entirely under the new State Pension rules.
You’ll usually need at least 10 qualifying years on your National Insurance record to get any State Pension and you’ll need 35 qualifying years to get the full new State Pension.
You will get a proportion of the new State Pension if you have between 10 and 35 qualifying years.
When will I pay National Insurance?
If you get paid through a Pay as You Earn (PAYE) system your National Insurance contributions will be automatically deducted from your salary by your employer, so you won’t need to do anything.
It applies to each pay period whether you get paid weekly, monthly, or a different time period.
If you are self-employed your National Insurance contributions will be calculated based on your Self-Assessment tax return and will be paid at the same time as your Income Tax.
Do I have to pay National Insurance?
National Insurance is mandatory and payable if you’re 16 or over and are either an employee earning above £184 a week or self-employed and making a profit of £6,515 or more a year.
What do National Insurance Contributions pay for?
Your National Insurance contributions are paid into a fund, from which some state benefits are paid. This includes the state pension, statutory sick pay and maternity allowance, plus entitlement to some additional unemployment benefits. A percentage of National Insurance Contributions also go towards funding the NHS.
Do you record all holiday, sickness etc.,
Yes! We record everything and can confirm how much holiday, sick etc., any member of staff has had during the year.
How do we find out about minimum wage and the effect of any changes?
We notify all our clients of any changes required for minimum wage at the start of September every year.
Is everything dealt with online for the HMRC?
Yes – we operate in line with all HMRC requirements.
Who deals with the Year End?
We deal with everything on your behalf, including updating all tax code changes where necessary, just as you would expect from a full service, outsourced payroll service.
How do we get the payslips?
We can either post all the payslips direct to your office or direct to each employee’s address.
How do we get any information about our Payroll that we require?
We keep secure copies of all the payrolls we manage at our office. We can either email you all the reports, or post them direct to you after each payroll run.
How do we know what amount to send to HMRC each month?
We send you the amounts to pay at the end of every month or quarter, dependent on how you pay the HMRC.
What if we or one of our employees has a query?
We are a full service, outsourced payroll service, so anybody who is on your payroll can phone us with a query and we will guide them through what they need to do.
If we are a new company who registers us for PAYE for payroll purposes?
We deal with this on your behalf.
How does an outsourced payroll service/payroll bureau work?
It’s very easy – we do everything for you!! We design a spreadsheet with all the standard information on, then you just enter the overtime, holiday and sickness pay details, etc. If you only have a few employees, you can email, phone or fax the hours etc., through.
Can you only change our payroll over at the start of the tax year?
No, you can transfer over at anytime during the year.
How quickly can our Payroll be transferred over to JLP Payroll Services?
Depending on the size of your business, within 2 – 5 days.
How easy is it to transfer your payroll over from either another payroll bureau or one that is run in-house?
It’s very easy. We can either obtain the information we need from where you outsource your payroll currently, or we can get the information from your software package.
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Find out how JLP Payroll can help streamline your business.
