Class 2 National Insurance Contributions – pay while stocks last!
8th August 2017
If you are self-employed and have a deficient national contribution record for state pension it might pay you to pay class 2 contributions in any in date year where you have previously claimed small earnings exemption. From 6 April 2018 class 2 NIC is to be abolished, after which time if you wish to plug a gap you will have to pay the more expensive class 3 voluntary contributions. The current rate of class 2 is £2.85, for class 3 £14.25!