HMRC Tax & National Insurance Sort Out

molerat

Again, it depends on your personal circumstances.  A pre 2016 gap year can be worth £5.82, £5.21 or £0.

jem16

bery_451 said:

molerat said:

bery_451 said:

molerat said:

Number of pre April 2016 NI years full
Number of post April 2016 NI years full

Are the Gaps found in Pre April 2016 and Post April 2016 the same as well as the Full NI Contribution Years or are they treated differently?

That depends on your personal situation which is why you were asked to provide that very specific list of information.

Yes all the Gaps in my NI Record that I just checked and see are Pre April 2016. Does Pre 2016 give higher or lower priority?

Until you give the answers to the questions molerat asked you earlier, no-one can give you the answers you want.

bery_451

Hi yes I believe I did on page 2 somewhere after signing into .Gov

Lastly where do I go to pay to fill in the Gaps?

jem16

bery_451 said:

Hi yes I believe I did on page 2 somewhere after signing into .Gov

You gave some replies but you didn’t answer the specific questions that were asked. The detail is important. 

bery_451

jem16 said:

bery_451 said:

Hi yes I believe I did on page 2 somewhere after signing into .Gov

You gave some replies but you didn’t answer the specific questions that were asked. The detail is important. 

Apologies forgot to ask what is COPE and who does COPE apply to?

jem16

bery_451 said:

jem16 said:

bery_451 said:

Hi yes I believe I did on page 2 somewhere after signing into .Gov

You gave some replies but you didn’t answer the specific questions that were asked. The detail is important. 

Apologies forgot to ask what is COPE and who does COPE apply to?

COPE stands for Contracted Out Pension Equivalent and applies to someone who was contracted out. 

bery_451

Dazed_and_C0nfused said:

Bostonerimus1 said:

bery_451 said:

Dazed_and_C0nfused said:

The basic State Pension was only available to those reaching State Pension age by 5 April 2016.

If you didn't reach SPa by then you will get the new State Pension.  And as you are under transitional rules for that there is no hard and fast number of years required.

You should check your Personal Tax Account to see your State Pension forecast.  You need to read it all, do not focus on the headline figure (probably £203.85/week) as it's what you have accrued to date which is more important in understanding your options.

And yes, for plenty of people the new State Pension is significantly higher than the old basic State Pension was.

Okay from reading your response my understanding is that I will be on the New State Pension and this new state pension will obviously be higher than the old pension due to taking in the account of Inflation?

Alright where do I go to check my Personal Tax Account and where do I go to fill in the National Insurance Contribution Gaps?

If you have enough contributions it might not be necessary to "fill in the gaps". Get yourself a SP forecast to see how much you'll get. FYI I have a couple of gaps back in the 1990s and my forecast says that because I have 35 years of contributions I cannot increase the amount of New State Pension that I will get at age 67.

But for the benefit of @bery_451 that isn't because everyone needs 35 years, it is just coincidence that 35 years were needed.

It's only those starting to add NI years from 2016 who fall under the 35 years rules, everyone else is under transitional rules.

Apologies asking lots of questions as I'm new to all this Pension, Tax, NI as its all very complicated to me and I can appreciate if you can reply in ELI5.

When you say Transitional rules, do you mean transitioning from Pre April 2016 to Post April 2016 and what are these rules? Regardless 35 years minimum is requires for full state pension and those 35 years can be from both Pre April 2016 and Post 2016 or is Reset after Post 2016? If its not 35 years then what is needed for New State Pension?

I started to add NI years Pre 2016.

molerat

There are loads of threads that explain everything, try here for starters. https://forums.moneysavingexpert.com/discussion/6406767/mse-guide-how-much-state-pension-will-i-get#latest

If you provide the information I asked for many posts back everything will be explained to you.

35 years is of no relevance to anyone born before 2000, anecdotal evidence on here gives anything between 28 and 50 years needed to reach the full new pension all based on personal circumstances.

bery_451

molerat said:

A P45 is only used for transferring your tax details from one employer to another within the tax year in which it is issued.  It can be useful for helping with records of income from employers and keeping it can help with tax queries later on but apart from that it has no useful purpose outside of the tax year it is issued in. So on 6th April, once the new tax year starts, it can be discarded if you so wish.

Okay have the P45 in front of me. To clarify on what you mention 'income from employers', do you mean the Total Pay in This Employment text box on this form or the Total pay to Date text box on this form? And can you give examples on what kind tax queries that can be raised later on from keeping a P45?

bery_451

molerat said:

There are loads of threads that explain everything, try here for starters. https://forums.moneysavingexpert.com/discussion/6406767/mse-guide-how-much-state-pension-will-i-get#latest

If you provide the information I asked for many posts back everything will be explained to you.

35 years is of no relevance to anyone born before 2000, anecdotal evidence on here gives anything between 28 and 50 years needed to reach the full new pension all based on personal circumstances.

I was born before 2000.
So to generally summarise from my understanding of your post, anyone born after year 2000 requires 35 years minimum and anyone born before 2000 requires any years between 28 years & 50 years as a minimum?

Got me thinking what kind of personal circumstances will match the 50 years rule and the 28 years rule? Is it personal health circumstances such as if your fit and healthy with no health issues then you are required to get to more years required to get to 50 years?