Post early retirement NI Contributions

agentk

I two would like to know as i work 11 hrs@ 6.50 per week below NI and tax amount.

Oh works full time. The only way to get ni credits is to sign on as unemployed just for the credits. No jsa which i did to be told i would of course expected to comply with jsa conditions. And then given a sign on day. The day i work :rotfl: i signed off.

atush

PM gadgetmind, he knows the ins and out of the OP Question.

I think it depends on who is running your local office though. when I thought of going this route (and am still entertaining it) I asked my local tax office about the process, and they intimated they keep an eye out for anyone trying this one w/o actually really being self employed (ie some have registered a 'Sage' etc).

So as long as you are earning something, and looking to keep working doing it, then I t hink you will be OK, even if you are only earning a few 100 quid?

drumtochty

There are plenty people doing Class II contributions without working.

You have two options.

1 Just apply and pay for then and do not worry and get on with your life.

2 Get a freind to take £10 a week from you in cash and get them to pay you £10 a week to walk their dog and have a duplicate book and give them a weekly invoice from the book for walking their dog.

Now if you are a a person who thinks that HMRC will send Interpol to cross question your friend in a darkened room to find out if they have paid you then this world is not for you.

Did you know in the days of dog licenses about 1988, I bought two dog licences as we had two dog. As far as I was aware no one ever came to check that we had one or two dogs.

Just pay the Class II contributions.

gadgetmind

atush wrote: »

PM gadgetmind, he knows the ins and out of the OP Question.

<Swoops in despite no PM, call it luck, call it spider senses>

My wife has been paying class 2 voluntarily for several years.

Pros:

It's cheap - qualifying years for about £2.80 a week, so little that even tight me can't remember!

You get to dream up an imaginative job title when registering as self-employed.

Cons:

You'll almost certainly have to do self assessment. My wife has a teeny amount of income as a result of some products I created in the 80s, and I have irrevocably gifted the rights to her. OK, it's only £30pcm, but not to be sniffed at! Others just declare their busking income.

You'll have to tell your car insurer, so don't say "busker". We considered "sage/poet" but finally realise that anything to do with horticulture is cheaper than "housewife", so found something relating to that which does actually match her hobbies and she's even won prizes.

However, there really doesn't seem to be any requirement to have income to be self-employed and pay class 2, but we decided to give it a spirited go, have fun, and create a job title that HMRC have told us is unique.

And no, I won't say what it is, not for a few years anyway.

dunroving

gadgetmind wrote: »

<Swoops in despite no PM, call it luck, call it spider senses>

My wife has been paying class 2 voluntarily for several years.

Pros:

It's cheap - qualifying years for about £2.80 a week, so little that even tight me can't remember!

You get to dream up an imaginative job title when registering as self-employed.

Cons:

You'll almost certainly have to do self assessment. My wife has a teeny amount of income as a result of some products I created in the 80s, and I have irrevocably gifted the rights to her. OK, it's only £30pcm, but not to be sniffed at! Others just declare their busking income.

You'll have to tell your car insurer, so don't say "busker". We considered "sage/poet" but finally realise that anything to do with horticulture is cheaper than "housewife", so found something relating to that which does actually match her hobbies and she's even won prizes.

However, there really doesn't seem to be any requirement to have income to be self-employed and pay class 2, but we decided to give it a spirited go, have fun, and create a job title that HMRC have told us is unique.

And no, I won't say what it is, not for a few years anyway.

Very helpful, thank you!

I have three years to think of an esoteric job title ...

agentk

My thanks also something to look into. Car insurance could be a problem regards premiums and restrictions.:beer::beer