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Semi Retired multi jobs
Frey_Bentos
Posts: 18 Forumite
Hi guys, I'd like some advice on what NI contributions I will need to pay during my semi retired years.
I retired this year from my full time job and I'm 57. I am drawing down roughly 12.5k from one of my pots. I have a small freelance job that pays up to £500 a month for 4 days work but its not reliable so I have added a second job.
I have found a zero hours paye job where I can work as much as I want and I'm currently doing 5 days a month. The paye job takes tax at 20 percent correctly and no NI (possibly I don't earn enough to pay NI?)
My question is about NI.
If my earned income is say 3k pa from the freelance work and 5k from the zero hours work, what is my NI liability?
I retired this year from my full time job and I'm 57. I am drawing down roughly 12.5k from one of my pots. I have a small freelance job that pays up to £500 a month for 4 days work but its not reliable so I have added a second job.
I have found a zero hours paye job where I can work as much as I want and I'm currently doing 5 days a month. The paye job takes tax at 20 percent correctly and no NI (possibly I don't earn enough to pay NI?)
My question is about NI.
If my earned income is say 3k pa from the freelance work and 5k from the zero hours work, what is my NI liability?
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Comments
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Depends on your pay pattern(s) and how much you earn in any given pay period (unless you're a company director, in which case NI is calculated on annual income). See https://www.gov.uk/national-insuranceFrey_Bentos said:Hi guys, I'd like some advice on what NI contributions I will need to pay during my semi retired years.
I retired this year from my full time job and I'm 57. I am drawing down roughly 12.5k from one of my pots. I have a small freelance job that pays up to £500 a month for 4 days work but its not reliable so I have added a second job.
I have found a zero hours paye job where I can work as much as I want and I'm currently doing 5 days a month. The paye job takes tax at 20 percent correctly and no NI (possibly I don't earn enough to pay NI?)
My question is about NI.
If my earned income is say 3k pa from the freelance work and 5k from the zero hours work, what is my NI liability?
Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
About to say, NI allowances arent worked out in the same way as income tax allowances. If you earn loads one month and then next to nothing the next month, you won't get NI contributions rebated in the same way tax is through PAYE.0
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The link below may be helpful, it certainly helped me to understand efficient ways of paid employment time and earnings required to fill in a few odd NI years missing.
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https://forums.moneysavingexpert.com/discussion/6461881/minimum-salary-required-for-state-pension/p1
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