National Insurance contributions

National Insurance contributions

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Universalium. 2010.

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  • national insurance contributions — (NICs) Amounts payable to HM Revenue & Customs by employees, their employers, and by self employed workers. The amount of NIC payable by any person is determined by multiplying the earnings or profits (plus certain non cash benefits) of the… …   Law dictionary

  • National Insurance contributions — NIC Payments made by those with earned income that contribute to the National Insurance Fund, from which benefits are paid. These benefits include retirement pensions, jobseekers allowance, widow s benefits, incapacity benefit, and maternity… …   Accounting dictionary

  • National Insurance Contributions Office — (NICO) Part of HM Revenue & Customs (HMRC), NICO is responsible for safeguarding and maintaining accurate national insurance records. In particular, NICO oversees the system relating to the collection of national insurance contributions ( …   Law dictionary

  • National Insurance Contributions Act 2008 — The National Insurance Contributions Act 2008[1] Parliament of the United Kingdom Long title An Act to make provision in connection with the upper earnin …   Wikipedia

  • National Insurance Contributions Act 2006 — The National Insurance Contributions Act 2006[1] Parliament of the United Kingdom Long title An Act to make provision about national insurance contributi …   Wikipedia

  • National Insurance Contributions - NIC — Payments made by employees and employers into the United Kingdom s National Insurance (NI). National insurance contributions initially funded programs for the ill and unemployed, and later on eventually paid for state pensions too. Contributions… …   Investment dictionary

  • National Insurance Services to Pensions Industry — (NISPI) England, Scotland, Wales A directorate of the National Insurance Contributions Office (NICO), NISPI is responsible for supervising pension schemes that are contracted …   Law dictionary

  • national insurance contribution — National Insurance Contributions must be paid by employers and employees. They are collected through the pay as you earn (PAYE) income tax collection system. The employer must make appropriate deductions from earnings and make payments of both… …   Law dictionary

  • national insurance — ➔ insurance * * * national insurance UK US noun [U] (ABBREVIATION NI) TAX ► a system in the UK in which the government collects money from workers and companies so that it can make payments to people who are unemployed, ill, or too old to work:… …   Financial and business terms

  • National Insurance — Taxation in the United Kingdom This article is part of the series: Politics and government of the United Kingdom Central government HM Treasury HM Revenue and Customs Income tax …   Wikipedia

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