Rental income and capital gains. NI payments

Rental income and capital gains. NI payments

Postby cascas on Tue Jan 17, 2012 12:37 am

This year I will not have any employed (paye) income. All income is from rental income, and a capital gain.

Is any NI payment required, if so which class is applicable?
cascas
 
Posts: 5
Joined: Sat Jan 01, 2011 10:57 pm

Re: Rental income and capital gains. NI payments

Postby mullet on Tue Jan 17, 2012 10:25 pm

No liability for NI contributions arises, since it is not due on property income or capital gains. You might wish to pay voluntary Class 3 NI contributions in order to protect certain entitlements.

"If your work or personal situation means that you don't currently have to pay National Insurance contributions, or you are not entitled to receive National Insurance credits, you may still be able to pay voluntary contributions to fill in any gaps in your National Insurance record."

http://www.hmrc.gov.uk/ni/volcontr/basics.htm
mullet
 
Posts: 2789
Joined: Fri Nov 06, 2009 9:26 am

Re: Rental income and capital gains. NI payments

Postby King_Maker on Tue Jan 24, 2012 11:11 am

Yes, no Class 2 nor Class 4 NI, but can pay Class 3 if you wish.
King_Maker
 
Posts: 4934
Joined: Wed Aug 06, 2008 3:22 pm


Return to National Insurance

Dorifor Internet Marketing Dorifor Tax Group - our portfolio of tax sites:

UK's largest independent tax portal All the tax books on one site global tax seminars, conferences and other events Global tax jobs portal List of UK recruitment agencies and employers