Wichita Eagle. “[O]ur deeply held religious belief keeps us from celebrating anything but marriage between a man and woman.”“I just started crying hysterically,” Waggy told the Eagle.
05.01.2024 - 12:09 / dailyrecord.co.uk
Chancellor Jeremy Hunt’s National Insurance (NI) cuts, which come into effect this weekend, offer an immediate and welcome boost to take-home pay for an estimated 27 million employees across the country. However, as the dust settles on this Autumn Statement decision, Aegon’s Pension Director Steven Cameron has flagged potential implications for individual finances and the future funding of the State Pension and current Triple Lock policy.
Class 1 NI deductions will be cut from 12 per cent to 10 per cent on Saturday, January 6. The change will mean an average worker on a salary of £35,400 will get a tax cut of more than £450 in 2024/25, while an employee earning £50,000 will pay £3,743 in National Insurance after the change, saving about £749.
Steven Cameron said: “The NI cut offers a welcome New Year boost for millions of employees, offering some relief to the cost of living challenge.”
The pensions expert continued: “While positioned as a ‘tax’ cut, National Insurance operates differently from income tax. First, individuals above State Pension age are already exempt from paying NI, so they won’t see any difference to their finances.
“Second, unlike income tax rates which are set by devolved Governments, the NI change will benefit those across the UK including those in Scotland, many of whom face an income tax hike come April. Third, the NI cut doesn’t affect the generosity of pensions tax relief.”
He added: “Had income tax been cut instead of NI, pensions tax relief would have been reduced accordingly.”
But Mr Cameron also wanted the short-term relief of the NI cut could have a potentially bigger impact on how the State Pension is funded.
He explained: “Today’s State Pensions are paid for from the NI of today’s workers.
Wichita Eagle. “[O]ur deeply held religious belief keeps us from celebrating anything but marriage between a man and woman.”“I just started crying hysterically,” Waggy told the Eagle.
The Black Keys have shared an energetic new video for their single ‘Beautiful People (Stay High)’ from their forthcoming LP.The track serves as the first offering from their 12th album ‘Ohio Players‘ which is set for release on April 5 via Nonesuch/Warner. Today (January 23) the band have released the single’s accompanying video.Directed by Chris Saunders, the video showcases beautiful people across the world, bringing high-energy dancing to match the track’s retro-inspired, feel-good sentiment.‘Beautiful People (Stay High)’ was written by the band’s own Dan Auerbach and Patrick Carney, alongside help from longtime friends Dan “The Automator” Nakamura and Beck.‘Ohio Players’ will feature a variety of guest appearances too, including collaborations with the likes of Noel Gallagher and Beck. Pre-order/pre-save it here.“We had this epiphany: ‘We can call our friends to help us make music’,” Carney said of the collaborative approach the band had towards the project.
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Millions of employees are set for a boost in their take-home pay from this month after the main rate of class 1 National Insurance (NI) deductions was cut from 12 per cent to 10 per cent on Saturday, January 6. The change will mean an average worker on a salary of £35,400 will get a tax cut of more than £450 in 2024/25, while an employee earning £50,000 will pay £3,743 in National Insurance after the change, saving about £749.
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