Jersey social security rise in January for high earners

Companies employing high earners will pay more in social security contributions for their staff from 1 January.

The States of Jersey agreed to increase the employers' contribution for people earning over £45,336 per year in April 2011.

This is a new 2% rate on employees earning between £45,336 and the upper limit of £150,000 per year.

This also applies to self-employed people.

Other changes to social security rules from 1 January mean that anyone newly self-employed will only pay a third of the standard rate until tax assessments are available for the first year of trading.

The social security department said: "This change removes what has often been described as a disincentive for entrepreneurs considering their first step into self-employment."

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites