Upper earnings level


 

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Upper earnings level

The earnings level of an employee above which no further Class 1 National Insurance contributions are payable.



Similar Matches

Normalised earnings

Normalised earnings

See 'adjusted earnings'.


Earnings before interest after taxes (EBIAT)

Earnings before interest after taxes (EBIAT)

A financial measure defined as revenues less cost of goods sold and selling, general, and administrative expenses. In other words, operating and nonoperating profit before the deduction of interest plus cash income taxes. Equivalent to EBIT minus cash taxes.


Earnings

Earnings

The total amount earned, usually by a worker as wages, or by a firm as profits.


Lower earnings limit

Lower earnings limit

The level of income at which employees start to pay Class 1 National Insurance contributions.


Taxable earnings

Taxable earnings

The amount of an individual's annual income on which tax is payable defined as:Taxable earnings = Income - Reliefs - AllowancesThe main reliefs are pension contributions and donations to charity. The main allowances are the 'personal allowance' which every individual has (£4,615 for people under 65 in 2003-2004) and the Married Couples Allowance for couples where one spouse is 65 or over.So someone with Income of £20,000 who has made pension contributions in the year of £1,000 will have Total Income of £19,000, and his Taxable Income will be £19,000 less a personal allowance of £4,615 = £14,385.The amount of tax he has to pay will be determined by the tax bands in operation in the year in question. For 2003-2004, the bands are:£1-£1,960: tax rate is 10% (starting rate) - tax on band is £196£1,961-£30,500: tax rate is 22% (basic rate) - tax on band is £6,278.58Over £30,500: tax rate is 40% (higher rate)


Further Suggestions

Earnings price ratio
Earnings before interest, taxes, and depreciation (EBITD)
Earnings before interest and, taxes (EBIT)
Primary earnings per (common) share
State Earnings Related Pension Scheme
Earnings retention ratio
adjusted earnings
Fully diluted earnings per shares
Earnings response coefficient
Earnings before taxes (EBT)
Earnings before interest, taxes, depreciation, and amortization (EBITDA)
Earnings
net relevant earnings
Quality of earnings
price earnings ratio (P/E ratio)
Earnings yield
earnings factor
Retained earnings
earnings yield
earnings per share
Normalized earnings
band earnings
price earnings growth factor
Earnings momentum
Accounting earnings


 
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