Having defined our company as a 'Ltd. Company' to ensure that we retain 100% shares and full ownership of the company, one of the requirements, as a business (with employees- the four of us working for the company), is to pay NIC- National Insurance Contributions.
Calculated individually within our living wages, the NIC as the employer of the company was also to be added. Initially, I was a little unsure about the % this would amount to, so check online at HM Revenue & Customs as well as Business Link and found two totals- 12.8% and 12%- so I rounded down to 12% for a more mangeable number (the number, like VAT varies under Government taxes, so the projected calculations are variable, on the whole)- this 12% will be taken from the gross living wage totals before taxation.
http://www.hmrc.gov.uk/rates/corp.htm
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