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Self Assessment voluntary Class 2 contributions

mj73
Posts: 11 Forumite
in Cutting tax
Hi All,
If you were employed for part of a tax year, but not the full 52 weeks, but your earnings from employment were above the lower earnings limit for the year and HMRC says they have that year down as a qualifying year for your pension, is there any benefit to paying voluntary class 2 contributions for that year on your self employment profits which were under the class 2 small profits exemption?
Do class 1 and class 2 NI contributions go towards different things?
Thanks in advance for any replies.
If you were employed for part of a tax year, but not the full 52 weeks, but your earnings from employment were above the lower earnings limit for the year and HMRC says they have that year down as a qualifying year for your pension, is there any benefit to paying voluntary class 2 contributions for that year on your self employment profits which were under the class 2 small profits exemption?
Do class 1 and class 2 NI contributions go towards different things?
Thanks in advance for any replies.
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