Tax Tip

Self-employed? Topping up your NICs

If you are self-employed, there is still time to top up your national insurance contributions (NICs) by making Class 2 payments, which can be a significantly cheaper option than making Class 3 voluntary contributions.

Class 2 NICs were due to be abolished in April 2018, but the measure has been delayed until 6 April 2019, meaning that those with earnings from self-employment below the small profits threshold can still pay Class 2 contributions voluntarily in order to top up their state pension.

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