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Do students have to pay National Insurance Contributions (NICs)?

April 26, 2017contributions Insurance National NICs pay students

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Do students have to pay National Insurance Contributions (NICs)?

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Students are also required to pay NICs on their wages. You pay NICs to help fund the National Health Service and to build up your entitlement to social security benefits. NICs are due for any week in which your gross pay exceeds 110 (477 a month) and are usually 11% of your wages in excess of this amount. Your employer will deduct NICs from your pay if they are due. Hopefully this information is enough to help students understand their tax position a bit better but if youre interested in finding out more you can visit HMRCs website and the website www.direct.gov.uk/studenttaxadvice. Aileen Paterson The Newsletter, Aileen Paterson aileen.paterson@bdo.co.