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Where Taxpayers and Advisers Meet

Do I still NEED to pay any National Insurance ?

SidCowans33
Posts:3
Joined:Thu Jun 22, 2023 10:04 am
Do I still NEED to pay any National Insurance ?

Postby SidCowans33 » Thu Jun 22, 2023 10:08 am

National Insurance confuses the hell out of me so looking for some advice here !

I am 63 years old. I was in full time employment for 24 years and have been self-employed for 20 years. I have paid National Insurance throughout the 44 years.

Should I still be paying NI ? Should I stop ? Should I have stopped ages ago ? Are there any benefits to still paying or downsides to stopping ?

Any help appreciated !

bd6759
Posts:4239
Joined:Sat Feb 01, 2014 3:26 pm

Re: Do I still NEED to pay any National Insurance ?

Postby bd6759 » Thu Jun 22, 2023 6:29 pm

You are liable to pay NI until you reach state pension age. You don’t get a choice.

SidCowans33
Posts:3
Joined:Thu Jun 22, 2023 10:04 am

Re: Do I still NEED to pay any National Insurance ?

Postby SidCowans33 » Thu Jun 22, 2023 9:44 pm

So what class of NI am I supposed to pay now I am self employed. My self employment earnings are below £6,000.

bd6759
Posts:4239
Joined:Sat Feb 01, 2014 3:26 pm

Re: Do I still NEED to pay any National Insurance ?

Postby bd6759 » Thu Jun 22, 2023 10:56 pm

None. Your earnings are below the threshold.

SidCowans33
Posts:3
Joined:Thu Jun 22, 2023 10:04 am

Re: Do I still NEED to pay any National Insurance ?

Postby SidCowans33 » Fri Jun 23, 2023 7:57 am

Thank you


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