Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Work

Chat with other users about all things related to working life on our Work forum.

National insurance question for self employed

3 replies

Jackyjill6 · 12/06/2018 13:51

I am considering becoming self employed and am confused about my prospective state pension. I only anticipate making quite a small profit for some time, and have found that under the Small Profits Threshold I won't be paying National Insurance.
I am concerned about the implications of this, can anybody clarify?

OP posts:
Chopchopbusybusy · 12/06/2018 13:59

You can still pay self employed contributions on a voluntary basis even if you would qualify for an exemption. Look on the government website and it will tell you how much that would be be. It is worth paying.

Badbadbunny · 12/06/2018 18:16

You can still pay self employed contributions on a voluntary basis even if you would qualify for an exemption. Look on the government website and it will tell you how much that would be be. It is worth paying.

From next year, those class 2 NICs for s/e are being abolished. From then, you'd have to pay the class 3 voluntary contributions which are a lot more expensive.

Jackyjill6 · 12/06/2018 20:36

To be honest I don't find the Gov.UK site very clear, which was why I asked here.

OP posts:
New posts on this thread. Refresh page