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Paying your own Tax & NIC


Adam
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Right guys and girls in starting a new job at the end of the month and will be paying my own tax & NIC (national insurance contributions) how do I go about it? I won't be self employed as I'll be working for someone so I'm not sure how it all works.


I've been advised to get an accountant but again I'm not sure how any of it works and how much should I expect to pay for one?


Any help would be appreciated.


Cheers

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If you are not self employed you shouldn't be paying your own tax and NI, your employer should be. If it is a full time job they are not allowed to force you to behave as if self-employed, there are all sorts of disadvantages for you. No holiday pay, sick benefits or pension rights, not to say no security of employment. You haven't said what you do but it sounds like the company is trying their luck with you, it would concern me about the whole operation if this is the way they operate. If you are officially a sub-contractor in some way you need a proper contract, and the salary should be at least 15%- 25% higher than employees doing a similar job due to lack of benefits above.

You can organise your own tax and NI affairs, its not impossible but it may well be easier to use an accountant and they can save more than they cost, especially if you have no experience in these things, like knowing what you can claim against tax - mobile phone, tools, overalls, car/van costs, even part of housing costs if you do paperwork or store working materials at home/garage.

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Agreed. They are supposed to deduct tax and NI at source. Also they need to pay employers NI contribution and if the company is over a certain number of employees they need to also provide pension scheme.

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