paying voluntary NI contributions

dgtucky

HI , I am 60 and retired, I have 5 years NI contributions to make before I retire at 67. Can I make voluntary class 2 contributions through self assessment to cover this gap?

molerat

Are you gainfully self employed ?

dgtucky

No I am not 

Dazed_and_C0nfused

dgtucky said:

No I am not 

Then no you can't.

But have you checked if you need to pay 5 extra years?

Just because there are available years between now and you reaching SPA doesn't mean you have to pay.

What exactly does your forecast show (in full)?

dgtucky

Yes it shows five years needed. I do some work for my kids for free, I could easily charge them nominal fees, would that work?

p00hsticks

dgtucky said:

Yes it shows five years needed. I do some work for my kids for free, I could easily charge them nominal fees, would that work?

I'm not an expert but I  suspect it will depend on the nature of that work and their set up - I think you'd have to registered as self employed and invoice them.

pinnks

Sounds like employment to me, not self-employment...

Dazed_and_C0nfused

pinnks said:

Sounds like employment to me, not self-employment...

Sounds even more like being a dad to me!

I do some work for my kids for free

pinnks

He was suggesting billing them as a self-employed person - that sounds more like employment.  Clearly if he is just helping out it is just being a dad

p00hsticks

pinnks said:

He was suggesting billing them as a self-employed person - that sounds more like employment.  Clearly if he is just helping out it is just being a dad

That why I said it depends on what sort of work is involved and what the set ups are for the individual children - you'd need to look to see if the IR35 criteria applied or not - e.g. will the OP only be offering his services to his children or to others as well, does he decide when and how he does the work, would his children be prepared for him to send someone else to do the work in his place etc etc..... 

dgtucky

So the work is accountancy, I did this self employed before I retired but now only do it for the children’s businesses. Now they are both established I will probably start charging a fee anyway. Does this need to be above the £1000 tax free limit to qualify for voluntary ni contributions?