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Feb 28, 2022 · You will only need to pay Secondary Class 1 National Insurance contributions if your employee earns more than the Freeport and Investment Zone Upper Secondary Threshold of: £25,000 per year
Jul 22, 2024 · 2.1 Employer rates. This table shows how much employers pay towards their employees’ National Insurance. The rate shown in the second column of the table (from 6 November 2022) is the Class 1A...
May 12, 2021 · Current law. Section 6 (1) (B) of the Social Security Contributions and Benefits Act 1992 (SSCBA 1992) creates a secondary Class 1 liability on earnings paid to an employee. Section 9 explains how...
Sep 22, 2023 · What is the Freeport Upper Secondary Threshold? Similar to the secondary threshold for tax purposes, the Freeport Upper Secondary Threshold dictates when an employer should pay Class 1 National Insurance Contributions. The threshold is based on an employee’s salary.
Mar 1, 2022 · Employers will only pay secondary class 1 NICs if the employee earns more than the Freeport Upper Secondary Threshold (FUST), which is £25,000 per year for tax year 2022/23. The relief can be claimed for new employees for a period of 36 months from the start of their employment if they meet the qualifying conditions.
Aug 5, 2021 · Earnings above £25,000, the Freeport Upper Secondary Threshold (FUST) will be charged at 13.8%. The relief to employers who qualify for the new scheme is due to run for nine years ending in 2031. However, HMRC have stated they will review the policy part way through to determine whether or not it should continue.
Jan 21, 2022 · The introduction of the Freeport Upper Secondary Threshold (FUST) and an amendment as a result of the divergence of the PT and ST values means that software and, therefore, calculations outside of software will change. This applies to ALL employee and employer calculations regardless of whether they are in a Freeport area.
