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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
Is it possible to opt out of National Insurance contributions scheme in the UK.? |
I'm very upset with the way pensions and benefits are abused in the UK. I would like to withdraw my support/money and invest in my own future. Is there a way of doing this without having to leave Britain? If able, I'm prepaired to forgo access to the State pension and Benefit System and use MY NI contributions to fund a personel scheme. Can anybody help? Squimberly is NOT correct. Its easy to avoid NIC in an entirely legal manner. Simply agree with your employer to have them directly pay part of your salary into a pension plan - it saves NIC AND tax. Since it saves employers NIC as well, you may be able to agree a split of that saving between yourself and them. If you are a contractor it is even easier as there are a number of limited company or other structures around - some are very aggressive from a taxation point of view but not strictly illegal. If you are a UK citizen working in the UK you have to pay NI contributions, unless you take a job earning you less 拢4,500 per year. Your contributions do not only pay for you, you see, so no, you cannot opt out. |
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