When Do You Start Paying National Insurance?

When Do You Start Paying National Insurance?

Not everyone pays for National Insurance, here is the way you pay National Insurance;

If you want to qualify for certain benefits and the State Pension, you will have to pay National Insurance Contributions.

Once you reach the age of 16 or over, and you are either an employee or self-employed, you are entitled to start paying National Insurance.

For an employee earning up to or above the amount of £242 a week, you pay for National Insurance. Also, for a Self-Employed person or an individual, and you make a profit of £6,725 or more a year, you will pay National Insurance.

There are also classes/types for Paying National Insurance, below they are;

Class 1; for Employees.

Class 2; for Self Employed.

Class 3; for Voluntary Contributions.

Class 4; for this class is also for self-employed people with profits of £11, 909 or greater profits. And note, that it doesn’t count toward state benefits.

More;

To know more about National Insurance, you can check out here National Insurance; Everything you Need to Know

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