{"id":4367,"date":"2021-06-17T04:00:00","date_gmt":"2021-06-17T04:00:00","guid":{"rendered":"http:\/\/im-22001"},"modified":"2023-01-11T11:12:00","modified_gmt":"2023-01-11T11:12:00","slug":"self-employed-nic-charges","status":"publish","type":"post","link":"https:\/\/www.oneaccounting.co.uk\/self-employed-nic-charges\/","title":{"rendered":"Self-employed NIC charges"},"content":{"rendered":"<p>There are two types of National Insurance contributions (NICs) payable by the&nbsp;self-employed. These are known as Class 2 NICs and Class 4 NICs.<\/p>\n<p>Class 2 NICs are paid by all self-employed taxpayers unless they earn under the Small Profits Threshold (SPT), currently &pound;6,515, which remove the necessity to pay NICs. Class 2 NICs are currently payable at a flat weekly rate of &pound;3.05 for the current 2021-22 tax year. Class 2 NICs count towards payments such as the basic State Pension, the employment and support allowance, maternity allowance and bereavement benefits.<\/p>\n<p>The self-employed are required to pay Class 4 NICs (as well as to Class 2 NICs) if their profits are &pound;9,569 or more a year. Class 4 NIC rates for the tax year 2021-22 are 9% for chargeable profits between &pound;9,569 and &pound;50,270 plus 2% on any profits over &pound;50,270.<\/p>\n<p>There is a specific list of jobs where class 2 NICs are not payable. These are:<\/p>\n<ul>\n<li>examiners, moderators, invigilators and people who set exam questions<\/li>\n<li>people who run businesses involving land or property<\/li>\n<li>ministers of religion who do not receive a salary or stipend<\/li>\n<li>people who make investments for themselves or others &#8211; but not as a business and without getting a fee or commission<\/li>\n<\/ul>\n<p>If you fall within any of these categories it can be beneficial to get a State Pension forecast and examine whether voluntary Class 2 NICs should be made to make up missing years contributions.<\/p>\n<div style='font-size:smaller' class='im_source'>Source: HM Revenue &#038; Customs   Wed, 16 Jun 2021 00:00:00 +0100<\/div>\n","protected":false},"excerpt":{"rendered":"<p>There are two types of National Insurance<\/p>\n","protected":false},"author":1,"featured_media":4368,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[161,1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Self-employed NIC charges - One Accounting<\/title>\n<meta name=\"description\" content=\"There are two types of National Insurance contributions (NICs) payable by the self-employed: Class 2 NICs and Class 4 NICs. 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