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Upper earnings level |
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Upper earnings levelThe earnings level of an employee above which no further Class 1 National Insurance contributions are payable.Similar MatchesNormalised earningsNormalised earningsSee '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. EarningsEarningsThe total amount earned, usually by a worker as wages, or by a firm as profits. Lower earnings limitLower earnings limitThe level of income at which employees start to pay Class 1 National Insurance contributions. Taxable earningsTaxable earningsThe 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 SuggestionsEarnings price ratioEarnings 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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