We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
National Insurance gap why so much?
Options
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
-
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.1
-
Thank you @molerat! That's very helpful.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards