Voluntary class 2 for just part of a year

openotherside28

Recently returned to UK (grew up here but left after finishing school) and have done a few Deliveroo shifts while looking for steady work. Just occurred to me that I can register as self employed.

If I start paying voluntary class 2 from now, with just over 4 months left in this tax year, is it enough to get full credit? I've seen the threshold expressed as an amount of money, but don't understand how that converts to weeks of voluntary contributions.

I suppose I'd be offered the chance to pay up the year if not, but that can be more expensive and I don't absolutely need this year on my record.

molerat

Class 2 is worked in weeks so you would pay for the weeks you were SE at class 2 and would need to top up the remainder at class 3

Have you had a state pension forecast ?

QrizB

openotherside28 said:

Recently returned to UK (grew up here but left after finishing school) and have done a few Deliveroo shifts while looking for steady work. Just occurred to me that I can register as self employed.

If I start paying voluntary class 2 from now, with just over 4 months left in this tax year, is it enough to get full credit? I've seen the threshold expressed as an amount of money, but don't understand how that converts to weeks of voluntary contributions.

I suppose I'd be offered the chance to pay up the year if not, but that can be more expensive and I don't absolutely need this year on my record.

You can (should?) register as self employed, then pay any missing NI contributions via your Self Assessment return.

openotherside28

QrizB said:

You can (should?) register as self employed, then pay any missing NI contributions via your Self Assessment return.

It's optional to register as self employed if profits are below £12570 though, isn't it? So the only reason to do it is so I could pay voluntary class 2 NI. I've made less than £400 so far, and not likely to get anywhere near the limit before i start a PAYE job.

openotherside28

molerat said:

Class 2 is worked in weeks so you would pay for the weeks you were SE at class 2 and would need to top up the remainder at class 3

Have you had a state pension forecast ?

Yes, have had a forecast. I can get to 35 years without any credits for this one.

QrizB

openotherside28 said:

QrizB said:

You can (should?) register as self employed, then pay any missing NI contributions via your Self Assessment return.

It's optional to register as self employed if profits are below £12570 though, isn't it?

It's necessary to register if you earn more than £1000pa, according to the Government.

https://www.gov.uk/set-up-sole-trader

Also confirmed here:

https://goselfemployed.co/tax-advice-for-deliveroo-riders/