Voluntary Class 3 Contributions

JamesU

The lower bolded costs for 05-06 (£7.35/wk=£382.20) and 08-09 (£8.10/wk=£421.20) in my previous post are correct as of last week when discussed with HMRC by phone.

However based on the additional info from JOHNGT and your link (see point 2 below), I guess it might also be worth asking HMR&C if you can indeed choose years between 1975-present (i.e. in addition to the last six years), and if so, are any of those years at fixed or cheaper cost relative to e.g. £626.60. From your second link in last post:

2. New opportunity to pay additional voluntary contributions for past years
You may be able to pay up to an additional six years of voluntary contributions to cover years going back to 1975, if you:
• reach State Pension age between 6 April 2010 and 5 April 2015; and (May 2010 here)
• already have 20 qualifying years, including any full years of Home Responsibilities Protection (HRP) (Yes, 20+).

JamesU

le_loup

Thanks James.
That's a thought although, because only two "cheap" years are quoted by Direct Gov (one with a caveat of credits for carers) and the fact that 2008/09 is cheap because the two year price hold has not expired, I assume that all the older years will be at current (£12.05) rates ... and I've read that that is true somewhere but can't now find it. Unless it is in page two of that last document as follows:

How much will the voluntary contributions cost?

[FONT=Arial,Arial][FONT=Arial,Arial]The weekly cost is £12.05 in 2010/11, or £626.60 a year for each complete year that you buy. The cost may change each year.

[/FONT][/FONT]But I will ring tomorrow and let you all know what happens.

le_loup

As suspected, going back beyond the last six years under the new opportunity scheme will cost £12.05/626.60. Confirmed in telephone call this morning.
So, for the case I'm looking at, if paid before 6th April we can chose 05/06 & 08/09 as the two cheaper years and the other two years from the past six or indeed any other unpaid year going back to 1975 all of which would cost £12.05
Thanks again for everyone's help ... more clarity for a complex subject here than in HMG's multifarious offerings!

sveika

Does anyone know that whether we can pay Voluntary Class 3 National Insurance by credit card? And will I be charged extra for doing that?

Sorry I don't know which forum will be the best to ask this question. Hopefully someone can see it here:-) Many thanks!

le_loup

Here's the link to How to Pay:
http://www.hmrc.gov.uk/payinghmrc/class3nics.htm

sveika

Thanks le loup, I have already read this page though.

According to the above link,

HMRC is currently unable to receive or make payments using the Faster Payments Service (FPS), which is offered by some banks; however it will continue to review the situation. In the meantime HMRC offers a range of fast and cost effective electronic payment methods including Direct Debit, payment by debit and credit card over the internet, and direct credit via customers' own internet and telephone banking facilities.

But I could not find any further information. How to pay by credit card over the internet? Which website? I've been to the post office but they do not take credit card.

Has anyone have any experience regarding this?

Many thanks!!!:beer:

sveika

I've received a very good answer here: https://forums.moneysavingexpert.com/discussion/3096916 Just for those who may be interested:)

gadgetmind

BTW, does anyone know more about paying class 2 instead? Can you just register as self employed (dog walker? busker? pole dancer?), pay your £2.60 a week, and then bung in a tax return every year showing a few bob earned in cash that doesn't exceed your personal allowance?