National Insurance

How to Claw Back the 1% Increase (a joke)

And finally...

Clive Brooks writes in with an hitherto unforeseen consequence of the Budget increase in NI by 1 per cent. We will all pay an extra penny NI for every pound that we earn above approximately 4,800 pounds. For example, if you earn 30,000 pounds per year, you'll pay an extra 252 pounds in NI.

Fortunately, there's a legal way to claw back this cash by exploiting the fact that the duty on a pint of real ale from a small brewery will fall by 14p a pint. Roughly speaking for every 7 pints you drink, you save 1 pound. So, in the example above, you can neutralise the effect of the NI increase by drinking an extra 1,764 pints of real ale. This is about 5 pints a night.

Obviously, people who earn more than this will have to drink more. For instance, if you earn 60k per annum, you will have to find room for 10 pints a night.

Quite a helpful tip! Thanks Clive.

Source:
TaxZone

Information Leaflet