National Insurance Contributions (NIC)

National Insurance contributions help to build your entitlement to certain state benefits, such as the National Health Service and your State Retirement Pension. There are lots of different classes of National Insurance, as an employee of Simplify you need to be aware of Employees NIC which will be deducted from your pay along with PAYE, and also Employer’s NIC. The Employer’s Contribution is relevant to you when working through an Umbrella company as your agency will have allowed for this extra cost when they calculated your Ltd Rate. However, this contribution still has to be made to HMRC and this is one of the payments that Simplify will take care of on your behalf.