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What do i need to do to pay NI for pension?

textbook
Posts: 771 Forumite


in Cutting tax
Received these in the post, whst do I need to do to ensure my NI payments are done for my pension?


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What does the web link in the last line of the letter say?#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3661
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This is the link, although I don't think it's entirely helpful to the OP.But isn't the first page of the letter saying that there is no NI or tax payment due?0
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SiliconChip said:This is the link, although I don't think it's entirely helpful to the OP.But isn't the first page of the letter saying that there is no NI or tax payment due?1
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in your previous thread you were advised to declare your CIS deductions, and eventually did so by grossing up to the value £137.38 on your tax return. (Did you ever find the payslips to confirm that fact?)
Doing tax return while self employed and PAYE - Page 2 — MoneySavingExpert Forum
Deductions are normally rounded up by HMRC system so, as the letter shows, HMRC accepts (*) you as having paid £138 of tax against an actual income tax liability of zero, as your total income is below the personal allowance,
therefore as you do not owe any income tax, the CIS money has been offset against the Class 2 that you voluntarily have chosen to pay leaving, as the letter says, zero
The letter shows that you are being credited with having paid only £138 (a full year's Class 2 is £179.40 @ 3.45 per week) however, as you had employment in that year your P60 shows you also paid £36.67 in NI under PAYE.
Therefore, you should check your NI record yourself to ensure they have recorded you as having a "full" year for 23-24 as, in answer to your previous thread question, you have not paid a full year's Class 2 NI.
But the "shortfall" may have been covered by your employee NI, hence you need to check your actual situation for 23-24 given your mix of employment and self employment in that tax year.
Check your National Insurance record - GOV.UK
* NOTE - please understand you are doing a SELF assessment and although HMRC has some information about your income and tax, it is not the complete picture, so the fact they say you do not owe "tax" does not necessarily mean that is correct until you yourself verify it.1 -
Does this confirm paid upto date?Bookworm105 said:in your previous thread you were advised to declare your CIS deductions, and eventually did so by grossing up to the value £137.38 on your tax return. (Did you ever find the payslips to confirm that fact?)
Doing tax return while self employed and PAYE - Page 2 — MoneySavingExpert Forum
Deductions are normally rounded up by HMRC system so, as the letter shows, HMRC accepts (*) you as having paid £138 of tax against an actual income tax liability of zero, as your total income is below the personal allowance,
therefore as you do not owe any income tax, the CIS money has been offset against the Class 2 that you voluntarily have chosen to pay leaving, as the letter says, zero
The letter shows that you are being credited with having paid only £138 (a full year's Class 2 is £179.40 @ 3.45 per week) however, as you had employment in that year your P60 shows you also paid £36.67 in NI under PAYE.
Therefore, you should check your NI record yourself to ensure they have recorded you as having a "full" year for 23-24 as, in answer to your previous thread question, you have not paid a full year's Class 2 NI.
But the "shortfall" may have been covered by your employee NI, hence you need to check your actual situation for 23-24 given your mix of employment and self employment in that tax year.
Check your National Insurance record - GOV.UK
* NOTE - please understand you are doing a SELF assessment and although HMRC has some information about your income and tax, it is not the complete picture, so the fact they say you do not owe "tax" does not necessarily mean that is correct until you yourself verify it.
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what do the "details" show?
there should be a £ figure for "paid employment" and words that state how many weeks of self employment you have been credited with1 -
40 weeks self employed and £36. So all paid up?Bookworm105 said:what do the "details" show?
there should be a £ figure for "paid employment" and words that state how many weeks of self employment you have been credited with
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