How do you pay your national insurance (literally)

[Dave D]

I recently did my self assessment and I can't find how to pay my NI. It says you can pay it at the same time but I can't find out how. I can't remember how I did it in the past.
Anyone know? I googled it but no luck.

 

[Wayners]

Your accountant will tell you the amount or HMRC will show you what's due.
I set up a payment plan on HMRC self assessment login where I paid £200 pm .
This figure covered tax and NI on next payment.
Example.
If tax and NI was due on 31st of July at £2000 i would pay £333 pm.
Other way is to just setup a standing order to HMRC with your tax number.

 

[crystal ball]

I recently did my self assessment and I can't find how to pay my NI. It says you can pay it at the same time but I can't find out how. I can't remember how I did it in the past.
Anyone know? I googled it but no luck.

AFAIK its lumped in with your tax payment, I use a bank transfer

 

[gas112]

What National Insurance do I pay if I am self-employed? | Low Incomes Tax Reform Group

For more general information on NIC visit What is National Insurance?. If you want information on how to get a National Insurance number (NINO) or what to do if you have lost or forgotten your NINO, visit our National Insurance number page. What National Insurance do I pay on self-employment...

www.litrg.org.uk

 

[Murdochcat]

Class 2 is no more.

Tax and ni are in the payment calculated

 

[JonathanM]

Class 2 is no more.

The rules on thresholds have changed but I'm sure Class 2 still exists.

 

[StephenStephen]

I pay it exactly the same way that I pay my tax.

 

[Dave D]

Thanks everyone. I've had a look at the website gas 122 added. It's helpful but I don't think the problem I'm having is to do with any changes as I often have a problem with NI. Cheers

 

[gas112]

i will be submitting my own accounts tomorrow or tues i will keep an eye pen for the wording for NI contributions

 

[Wayners]

NI is worked out on your
tax bill so you know amount around a year in advance.
Many don't understand payment on account either.
If tax bill is £2000 2022 to 2023 then HMRC think you will do a runner so you pay on account.
You will actually pay £3000. That's £2000 tax owed and £1000 on account ( in credit)

Look at tax bill. It's says that. Payment on account £xxxxx

 

[noseall]

I recently did my self assessment and I can't find how to pay my NI. It says you can pay it at the same time but I can't find out how. I can't remember how I did it in the past.
Anyone know? I googled it but no luck.

My accountant tells me the bottom line and then I pay it. NI is all lumped in with same payment (due tomorrow ).

 

[Wayners]

My accountant tells me amount owed as well but HMRC corrects figure. I found that odd but that's how it worked for me.
I always looked online for correct amount when figures were summited

 

[noseall]

My accountant tells me amount owed as well but HMRC corrects figure. I found that odd but that's how it worked for me.

I never question any of it. I have a negative interest in tax affairs. It bores me rigid. If I pay too much, it balances out net time. No dramas. No doubt when I come to retire, I'll pay a little more attention though.

 

[Mottie]

No doubt when I come to retire, I'll pay a little more attention though.

An employee doesn’t pay NI when they reach state retirement age and S/E only pay class 4 contributions up to the end of the tax year in which they reach state retirement age.

 

[Murdochcat]

I never question any of it. I have a negative interest in tax affairs. It bores me rigid. If I pay too much, it balances out net time. No dramas. No doubt when I come to retire, I'll pay a little more attention though.

Boring or not but I would recommend that you get a state pension forecast - and see what it says.