Starting up:
National Insurance Contributions
National insurance contributions (NICs) are payable by both employed and self employed people, unless they are under 16 or over pensionable age (although employers still need to pay NICs on amounts paid to pensioners). There are four classes of national insurance:
- Class 1: paid by employees and employers
- Class 2: paid by the self employed
- Class 3: voluntary contributions paid by those who have not paid enough NIC contributions to qualify for certain benefits
- Class 4: paid by the self employed
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Where next?
Within Starting up ...- Developing your business idea
- Your business structure
- Setting up
- Accounting systems
- Payroll and PAYE
- VAT
- Income tax
- Corporation tax
- Contact us about this issue
- Read about how we can help you & your family
- Request a meeting with us
