21. CLASS 1 NAT INSURANCE Flashcards
1
Q
what is type 1 nat. insurance
A
class 1 primary = employee
class 1 secondary = employer
2
Q
what are age limits for nat insurance class 1
A
primary (employee) = 16 - 66
secondary (employer) = 16 onwards
3
Q
what is employment allowance for class 1 secondary
A
5k
4
Q
what are conditions for class 1 secondary employment allowance
A
class 1 nic liability prim and sec less than 100k
also not available for one man companies
5
Q
comment on how NIC are calculated for company director
A
annual basis - to stop directors paying themselves in a way to minimise NIC
