National insurance voluntary contribution confusion !

hazyfish

Hello all,

I have a question about my NI contribution for the last tax year (22-23). I'm just doing my tax return now and want to know if i need to pay the voluntary contribution for Class 2 NI or not. 

I earned about £8k in PAYE employment and i payed NI as part of this (according to P60 I paid £545 in NI contributions as part of this). I also carried out some self employment - just started a business and earned about £300 net this year. in my tax return calculation it asks if i want to pay £75 voluntary class 2 NI. I do want to make sure this year counts towards my Pension in terms of NI. My question is - what is this figure of £75 based on? Do i need to pay this £75 vol contribution to ensure i get enough earns for this year to count towards my pension, or could this amount be above what i need to pay (or not enough) ? I've been trying to get through to the Government NI helpline but no luck so far. Any advice gratefully received,
thanks 

Dazed_and_C0nfused

What does your NI record show on your personal tax account?

molerat

It is in your Government Gateway account.

hazyfish

Dazed_and_C0nfused said:

What does your NI record show on your personal tax account?

Hi, thank you -  i've just found my NI record on my account, which says i have full contributions for 2022-23 from paid employment. Does that therefore mean there is no need to pay the voluntary class 2 contribution ? Would there be any benefit to me in paying it ? Thanks v much

molerat

hazyfish said:

Dazed_and_C0nfused said:

What does your NI record show on your personal tax account?

Hi, thank you -  i've just found my NI record on my account, which says i have full contributions for 2022-23 from paid employment. Does that therefore mean there is no need to pay the voluntary class 2 contribution ? Would there be any benefit to me in paying it ? Thanks v much

Apart from giving you a warm fuzzy feeling inside for helping out the government finances in these tough times it will do no good whatsoever, there is no need to pay.