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What the Government don't want you to know...
National Insurance
This usually comes out of your salary when you work. It goes towards paying for your state pension.
What most people don't know is that not everyone gets 100% of the state pension - it all depends on what you have paid into it over your lifetime. Basically, men have to pay NI for 90% of their working life, which means for 44 years, men have to be working and paying NI. For women it's also 90%, but it's only 39 years.
So, since we were 16, we should have been paying £7.10 to the government to make sure we will get a full state pension.
However the government pays the first 2 years for us (who knows why) and so that means at 18, we have to start paying for ourselves.
Who knows what will happen in the future - some may be forced to retire early through ill health or family circumstances. And what about those women who work in the home looking after children? For many of us, we will have plenty of working life to come and so it doesn't matter, but if you want a full state pension when you are old, I'd get paying my NI now. It can be done if you just contact them.
Tax
The law says you can earn up to (approximately-I don't know the exact figure) £4800 before you have to start paying tax.
Therefore, if anyone has just started a job or has a summer job, you are allowed to earn up to a certain amount before paying tax.
However, the government are sleazy and start taking this tax from the moment you start earning. Also, they don't tell you that you can claim the money back that it rightfully yours.
The government makes £300 MILLION a year from this scam. It is money that does not belong to them. And in my view, it is theft.
If you are owed any money, please claim it back! And spread the word to everyone. Don't let the government get away with this awful scam!
Bev's advice
For years, whenever I hear of money things, I've always thought it was best to keep cash in the house. Well, now I'm convinced of it. The best investment you will ever make is to buy a safe. Banks steal your money in what they call "charges". Government steals your money in tax they are not owed (anyone reminded of Zaccheus here??!!). When I have some money to call my own, the first thing I'll do is buy a safe.
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