Tag: NIC

Working through the NIC maze can be daunting...this should simplify it for you!

Working throught the NIC maze

NIC’s – why pay it ? You pay National Insurance contributions to build up your entitlement to certain state benefits, including the State Pension. The contributions you pay depend on how much you earn and whether you’re employed or self-employed. You stop paying National Insurance contributions when you reach State Pension age. (If you are […]

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3 quick items of interest

Just a three quick items of interest if you are self-employed, or are self-assessed taxpayer…. Class 2 NIC’s It was announced in the recent 2016 budget, that Class 2 National Insurance Contributions would be scrapped from April 2018. Yes…you read that correctly !. Currently you are paying £2.80 per week if you earn a PROFIT […]

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Class 2 NIC changes

What are NIC’s ? “National Insurance Contributions” (NIC’s) contributes towards your state pension and certain other benefits; the amount of contributions you make during your working lifetime affects the level of pension you receive. If you are employed on a payroll, you pay Class 1 NIC which get taken automatically via PAYE. Class 2 and […]

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