We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Is it better to pay class 4 as well class 2 NI contributions?
textbook
Posts: 922 Forumite
in Cutting tax
With a profit of £8420 you only pay class 2 NI contributions and not class 4. Will you lose out on anything e.g. pension . Or anything else by not paying it and only paying the class 2 ?
0
Comments
-
Class 4 NIC is just tax by another name. No benefits accrue from paying it.2
-
Class 2 is what you need for SP and some other benefits, class 4 is purely a tax. https://www.gov.uk/national-insurance/what-national-insurance-is-for
1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards