Menu
25/04/2002
PwC hit out at national insurance increase
Leading chartered accountancy firm, PricewaterhouseCoopers (PwC) has said that jobs could be lost in Northern Ireland as a result of the national insurance increase in last week's Budget.
PwC also said that the insurance hike was likely to affect the competitiveness of local business and that it would add to the overall cost of doing business in an already difficult economic climate. The hardest hit is likely to be larger employers with low margins and relatively low added-value.
From April 6, 2003 all employees will continue to pay National Insurance Contributions (NIC) on earnings between £89 and £585 per week at a rate of 11%, rather than at the present 10%.
However, those who earn more than £585 per week will pay NIC at one per cent on all earnings about that figure, with no upper limit. Employers NIC contributions, meanwhile, will increase to 12.8% from 11.8% on all earnings.
PwC managing partner Stephen Kingon hit out at the increase and said that it was about time the Government admitted that national insurance was a tax. (MB)
PwC also said that the insurance hike was likely to affect the competitiveness of local business and that it would add to the overall cost of doing business in an already difficult economic climate. The hardest hit is likely to be larger employers with low margins and relatively low added-value.
From April 6, 2003 all employees will continue to pay National Insurance Contributions (NIC) on earnings between £89 and £585 per week at a rate of 11%, rather than at the present 10%.
However, those who earn more than £585 per week will pay NIC at one per cent on all earnings about that figure, with no upper limit. Employers NIC contributions, meanwhile, will increase to 12.8% from 11.8% on all earnings.
PwC managing partner Stephen Kingon hit out at the increase and said that it was about time the Government admitted that national insurance was a tax. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
15 April 2002
Speculation grows on tax rise postponement
Speculation is mounting that UK Chancellor Gordon Brown is set to postpone any tax rises planned as part of the Government's Budget this Wednesday.
Speculation grows on tax rise postponement
Speculation is mounting that UK Chancellor Gordon Brown is set to postpone any tax rises planned as part of the Government's Budget this Wednesday.
16 April 2014
Local Insurance Company Removes Common Van Insurance Obstacles
Local company, Find Insurance NI, is going that bit further to make life easier for their van insurance customers. Whether you use your van for business or pleasure, making sure your insurance policy is up to date is one of those necessary evils that you just can’t avoid. The team at Find Insurance NI understand that your time is precious.
Local Insurance Company Removes Common Van Insurance Obstacles
Local company, Find Insurance NI, is going that bit further to make life easier for their van insurance customers. Whether you use your van for business or pleasure, making sure your insurance policy is up to date is one of those necessary evils that you just can’t avoid. The team at Find Insurance NI understand that your time is precious.
27 February 2013
Guidewire Software Creates New Positions
Guidewire Software, a global provider of software solutions to the general insurance industry, is creating 75 new positions in 2013 to add to the existing 50 employees already employed at its Global Services' and Regional Development Centre in Blanchardstown, Dublin.
Guidewire Software Creates New Positions
Guidewire Software, a global provider of software solutions to the general insurance industry, is creating 75 new positions in 2013 to add to the existing 50 employees already employed at its Global Services' and Regional Development Centre in Blanchardstown, Dublin.
06 September 2011
Home Insurance On The Increase
Home Insurance prices in the Irish Republicx are set to soar by the end of the year, according to the Irish Brokers Association (IBA). Premiums are set to increase by between 10% and 15% .
Home Insurance On The Increase
Home Insurance prices in the Irish Republicx are set to soar by the end of the year, according to the Irish Brokers Association (IBA). Premiums are set to increase by between 10% and 15% .
10 February 2005
Minister welcomes guidance on business insurance
Enterprise Minister Barry Gardiner has welcomed a new guide that offers practical advice to businesses on purchasing insurance cover.
Minister welcomes guidance on business insurance
Enterprise Minister Barry Gardiner has welcomed a new guide that offers practical advice to businesses on purchasing insurance cover.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
