On 29/03/2010 14:10, Michael Leuty wrote:
> On 29 March 2010 13:41, Paul Bromley <[log in to unmask]> wrote:
>> I have been carrying out appraisals for the last couple months, and how
>> asked my local PCT regarding superannuation payments on this but I've got no
>> response. I assume that this is fully superannuable, and Trefor has
>> confirmed that it is. I assumed that the PCT is liable for the employers
>> element of this and that I need to pay the employee's element.
>
> I don't know, but I would assume that it will be like all remuneration
> in the post-2004 world, i.e. the whole 22.5% (or whatever your
> percentage is) has to be deducted from the fee.
>
> This means that after tax & superannuation we currently get only 45%
> of gross income, and this percentage will reduce further under Labour
> plans to increase NI and introduce a new top rate of 50%.
>
> Something to think about when considering whether to accept new work.
I would agree with Michael's comments. It is important to take account
of who will be responsible for the superannuation payments when agreeing
fees for work like Appraising. If necessary discuss it with your LMC.
--
Regards,
Stephen
|