Overview
You pay National Insurance contributions to qualify for certain benefits including the State Pension.
You pay National Insurance if you’re:
16 or over
an employee earning above £155 a week
self-employed and making a profit of £5,965 or more a year
You need a National Insurance number before you can start paying National Insurance contributions.
If you earn between £112 and £155 a week, your contributions are treated as having been paid to protect your National Insurance record.
National Insurance classes
There are different types of National Insurance (known as ‘classes’). The type you pay depends on your employment status and how much you earn, and whether you have any gaps in your National Insurance record.
When you stop paying
If you’re employed, you stop paying Class 1 National Insurance when you reach the State Pension age.
If you’re self-employed you stop paying:
Class 2 National Insurance when you reach State Pension age (or up to 4 months after this to pay off any contributions you owe)
Class 4 National Insurance from 6 April (start of the tax year) after you reach State Pension age
You pay National Insurance contributions to qualify for certain benefits including the State Pension.
You pay National Insurance if you’re:
16 or over
an employee earning above £155 a week
self-employed and making a profit of £5,965 or more a year
You need a National Insurance number before you can start paying National Insurance contributions.
If you earn between £112 and £155 a week, your contributions are treated as having been paid to protect your National Insurance record.
National Insurance classes
There are different types of National Insurance (known as ‘classes’). The type you pay depends on your employment status and how much you earn, and whether you have any gaps in your National Insurance record.
When you stop paying
If you’re employed, you stop paying Class 1 National Insurance when you reach the State Pension age.
If you’re self-employed you stop paying:
Class 2 National Insurance when you reach State Pension age (or up to 4 months after this to pay off any contributions you owe)
Class 4 National Insurance from 6 April (start of the tax year) after you reach State Pension age
Posted by https://www.gov.uk/national-insurance get more details here https://www.gov.uk/national-insurance
No comments:
Post a Comment