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National Insurance gap why so much?
lightsaver
Posts: 28
Forumite
Hi, I have a gap for 2022 to 2023 for £500 and a gap for 2023 to 22024 for £900.
I don't understand why the amounts to be paid are so high as I was solely self-employed for those tax years and my SE profits from 2022 to 2023 were only £1800 and £2500 for 2023 to 2024.
I thought that the class 2 N.I. rate was around £160 to £170 a year so why do I owe £900 for 2023 to 2024?
Can anyone makes sense of this please? Many thanks.
I don't understand why the amounts to be paid are so high as I was solely self-employed for those tax years and my SE profits from 2022 to 2023 were only £1800 and £2500 for 2023 to 2024.
I thought that the class 2 N.I. rate was around £160 to £170 a year so why do I owe £900 for 2023 to 2024?
Can anyone makes sense of this please? Many thanks.
0
Comments
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The NI record only shows at class 3 rate. If you were self employed to need to speak to HMRC to get the correct rate for those years. The good news is you have plenty of time to sort it.
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
1 -
Thank you @molerat! That's very helpful.0
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