Do I pay NIC's?

[pooksahib]

Hello. I'm in my 40's and have left my employment (for family reasons). My income is now interest on savings and the rental of the house I used to occupy (£550pcm less agent fee). I do not claim any benefits. I'll now have to start filing a Tax Return and would like confirmation of National Insurance. As I understand it, I'm a 'passive landlord' and so don't need to register as Self Employed.

Am I correct in saying that I need not concern myself with NIC's at all?

Many thanks for all assistance.

[pawncob]

Landlords are not classed as self employed, so no Class 2 or Class 4 is due.

[JS123]

You are correct - letting a property does not require payment of class 2 - however do bear in mind that you may end up with gaps in your NI record when it comes to pension (though under the new rules coming in in 2010 you will only need 30 qualifying years to get maximum pension).

You could consider - and may in due course be asked to - paying voluntary class 3.

If you are a parent of a young child or a carer of a sick or disabled person, you may be get home responsibilities protection (or whatever the current exact term is). If you claim child benefit, I understand that this is credited automatically so long as the child benefit claim shows your correct NI number. Otherwise, or if you are a carer but not of a young child, you need to take some steps to claim.

[pooksahib]

Excellent information and advice. Many thanks to you both for taking the time to reply to me.