What class of NI do you pay?

[amyp]

I just working out my national insurance stuff and am wondering what class everyone pays? I'm a bit confused as I haven't been asked for payment yet so I'm assuming it's class 4? X

[Fitrix]

I can't think of the exact figures off the top of my head. But you basically pay class 2 NIC (think about £60 per quarter but please someone correct me). Then once you do your tax return any profit above a certain threshold (it changes yearly along with the personal allowance) you have to pay NIC class 4 on that. Google personal tax allowance and it gives you all the thresholds.

[Rick]

Have a look in Free Resources at the top of the page and there are some excellent documents on tax and NI

[Simona]

This is what you should pay

HM Revenue & Customs: Class 2 National Insurance contributions

[Snowwhite]

So is it right that i pay between £10.80 or just over £13 each month via direct? ( Have done for a long time now. My wages were good about a year ago and after that they dropped by quite a bit

[Simona]

So is it right that i pay between £10.80 or just over £13 each month via direct? ( Have done for a long time now. My wages were good about a year ago and after that they dropped by quite a bit

You can apply for a reduction if your income drops as stated in the HMRC website
I think our income can fluctuate over time but I also think cms keep paying their NI contributions in such cases...they do count towards your state pension and other benefits you can claim in older age

[line6]

So is it right that i pay between £10.80 or just over £13 each month via direct? ( Have done for a long time now. My wages were good about a year ago and after that they dropped by quite a bit

Yes I think that's about right. I have recently had a bill for my first payment which was £70 ish for the 6 months Oct-April

[wee_elf]

I recently did a webinar with hmrc that covered this and other financial aspects. It may be worth signing up for it, it was really helpful! X

[Snowwhite]

Thanks all

[kaz26]

U can also ask to be exempt if your earnings are low x