Brought forward from August last year. People on ordinary incomes still pay too much Each employee’s labour costs their employer a certain amount: their salary plus employers’ National Insurance Contributions (neglecting other benefits). How much does the employee actually receive to spend as they see fit? As a guide, we looked at the figures for a single man employed full-time, making median gross annual earnings. He saves nothing and spends the average percentage of his earnings on goods and services rated […]

Tags: Friendly Societies, HMRC, NIC, PAYE, Tax, VAT