Present self-employed NIC rates
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year. Class 4 NIC rates for the tax year 2024-25 are 6% for
The NIC Employment Allowance
The Employment Allowance benefits eligible employers by reducing their National Insurance liability. The current allowance is £5,000. An employer can claim less than the maximum if this covers their
Finding your National Insurance number
If you have lost or forgotten your National Insurance number there are a number of ways to locate it. Firstly, you could try and locate the number on paperwork such as your tax return, payslip or P60.
Directors and National Insurance
Directors are classed as employees and pay National Insurance on annual income from salary and bonuses that exceed the Primary Threshold. The annual threshold is £12,570 in the current 2024-25 tax
Deferring National Insurance payments
Employees with more than one job may be able to defer or delay paying Class 1 National Insurance in certain circumstances.
This deferment can be considered when any of the following apply:
You pay
Checking your National Insurance records
There is an online service available on HMRC to check your National Insurance Contributions (NIC) record online. The service is available at https://www.gov.uk/check-national-insurance-record
In
Class 4 NICs who is liable?
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year.
Class 4 NIC rates for the tax year 2024-25 are 6% (2023-24:
Spring Budget 2024 – NIC changes
As had been widely expected, the Chancellor announced further changes to National Insurance contributions (NIC) rates for employees and the self-employed.
There will be a further 2% cut in the main
What is Class 1A NIC?
Class 1A NICs are paid by employers in respect of most benefits in kind provided to employees such as a company car. Class 1A NICs are also due on charge on termination awards above a £30,000
National Insurance and tax after State Pension Age
If you have reached the State Pension age and continue to work, in most cases, you no longer need to pay National Insurance Contributions (NICs).
At State Pension age, the requirement to pay Class 1
