See the Gov. There are special rates of Class 2 National Insurance for share fishermen and volunteer development workers. Unless your profits from self-employment are below the threshold you will have to pay Class 2 National Insurance. Even when you do not have to pay class 2 National Insurance, you may wish to pay Class 2 anyway in order to preserve your pension entitlement and entitlement to certain other State Benefits. You pay Class 4 National Insurance together with your income tax — usually due by 31 January and 31 July each tax year.
Use our National Insurance calculator to discover how much you'll pay in each tax year - simply select the tax year you want from the dropdown list.
We've assumed that self-employed people have elected to pay Class 2 National Insurance contributions. The figures shown indicate what you'd owe on an annual basis, assuming you've worked for the full tax year. Even if you earn below the Class 2 threshold, you may choose to make these contributions anyway at the same rate.
Alternatively, you may choose to make voluntary Class 3 contributions, though the rate tends to be higher and you may not qualify for certain benefits. You can find out more in our guide to Class 3 contributions. You can usually pay voluntary Class 3 contributions for the past 6 years. The deadline is 5 April each year — so, the deadline to make up gaps for tax year is 5 April You can do this online if you have a Government Gateway account.
Alternatively, you can request a printed NI statement by filling out an online form or calling Your NI number should be printed on any existing letters about tax, pensions or benefits, or on payslips or P60s if you were employed at one time. As soon as you become self-employed, you should register with HMRC. From this self-assessment, HMRC will calculate how much tax you owe based on the amount of profit you make over the tax year — your National Insurance contributions are part of this tax.
Get a head start on your tax return with the Which? Financial Services Limited. Financial Services Limited is a wholly-owned subsidiary of Which? Limited and part of the Which? It will take only 2 minutes to fill in. Cookies on GOV. UK We use some essential cookies to make this website work. Accept additional cookies Reject additional cookies View cookies. Hide this message. Home Money and tax National Insurance. National Insurance. How much you pay The amount of National Insurance you pay depends on your employment status and how much you earn.
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Working out your employment status. Need more help? Contact us for free and impartial money guidance. UK website Find out more in our guide Employment contracts and your employee rights explained. Back to top. Registering as self-employed. Money Navigator Tool. Have you got money worries because of coronavirus? Find out more, including registering as self-employed, in our guide How to fill in a Self Assessment tax return. Disguised Remuneration Schemes. However, if you have two jobs and one is self-employed, things are a little more complicated.
Find out more in our guide Second job tax and pay. Find out more about what the different tax codes mean on the GOV. Trading and Property Allowance. Find out more about the trading and property allowance on the GOV. Income tax when self-employed. Find out more about expenses you can claim for on your Self Assessment tax return in our guide How to fill in a Self Assessment tax return. The amount of income tax you pay on your trading profits is the same as if you were employed.
The table below shows the rates of Income Tax, depending on how much you earn. Table scroll. Trading profit. Income Tax band.
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