Class 2 National Insurance

18-Mar-2015

Class 2 National Insurance Payments


From April 2015 the collection of Class 2 NICs will be through Self-Assessment (SA) so that the self-employed can pay their income tax and Class 2 and Class 4 NICs together.


Also, the liability for Class 2 NICs will no longer be automatic. 

Those that report a profit below a new Small Profits Threshold (£5,965) will not be liable for Class 2 NICs, but they will be given the option to pay it voluntarily to protect their entitlement to contributory benefits. They will also be informed of the potential impact of choosing not to pay voluntary NIC.

For more information about Class 2 click here


https://www.gov.uk/government/publications/class-2-national-insurance-contributions