National Insurance Number: Tax & Superannuation
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30 November 1999
Posted in
Getting a job in London
Ok so most of you are probably asking yourselves, what the ^%&* is an NI or National Insurance number?!
Well, It’s the UK’s equivalent of a tax file number if you’re from Oz, IRD number if you’re from NZ, or a xx if you are from SA.
You will need a National Insurance number when you start work, so that
a. You are taxed at the right amount
b. Your National Insurance Rebate, which is similar to Superannuation, is claimable once you leave the UK and return home.
It’s not an easy number to get, the system to get the number is annoying, long and illogical but it’s worth the pain of getting it –It makes claiming for tax and NI rebates much much easier – Actually it’s near impossible to get any money back from the UK government without one.
Check out our National Insurance Number video for an explanation of what it is, how to get it and where to get it from.
Also check out these links for an in-depth explanation of the NI number.
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National Insurance Rebates
As a UK taxpayer, you and your employer have to pay NI contributions. By signing up for an NI Rebate and contracting out of the State Second Pension Scheme you are choosing where your contributions are being directed. You don't have to contribute anything extra to contract out; you are simply choosing to direct your funds to your own personal pension fund which will be set up as part of this NI refund process.
Ni Rebat companies to choose from:
- TNT Online
- Taxback.co.uk
- nirebateonline.com
