Payment of self-employed class 2 national insurance

News: May 2014

Payment of self-employed class 2 national insurance

Class 2 NIC for the tax year 2014/15 is charged at the rate of £2.75 per week. It is possible for those with earnings below the small earnings limit of £5,885 (for 2014/15), to apply for the small earnings exception using form CF10.

Some taxpayers are both employed and also self-employed and so will have a PAYE code. From April 2014, HMRC can collect outstanding Class 2 NIC by adjusting the PAYE tax code. If a Class 2 National Insurance contributions debt is being collected through a tax code, HMRC will have written to the taxpayer earlier in the year requesting payment. If you do not want your Class 2 National Insurance contributions debt to be included in your tax code, then you will need to pay the amount due in full.

Date What’s Due
01 May Corporation tax for year to 31/7/13
19 May PAYE & NIC deductions, and CIS return and tax, for month to 5/5/14 (due 22 May if you pay electronically)
01 June Corporation tax for year to 31/8/13
19 June PAYE & NIC deductions, and CIS return and tax, for month to 5/6/14 (due 22 June if you pay electronically)

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