What class of NI do you pay?
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  1. #1
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    Default What class of NI do you pay?

    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

  2. #2
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    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.
    Last edited by Fitrix; 09-05-2014 at 04:58 PM.

  3. #3
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    Have a look in Free Resources at the top of the page and there are some excellent documents on tax and NI

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    Simona Guest

  5. #5
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    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
    Last edited by Snowwhite; 09-05-2014 at 10:14 PM.

  6. #6
    Simona Guest

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    Quote Originally Posted by Snowwhite View Post
    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

  7. #7
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    Quote Originally Posted by Snowwhite View Post
    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

  8. #8
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    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

  9. #9
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    Thanks all

  10. #10
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    U can also ask to be exempt if your earnings are low x

 

 

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