How To Pay National Insurance If You Are Self-Employed
How To Pay National Insurance If You Are Self-Employed
Justin Modray (Investment and Pensions Adviser) gives expert video advice on: I'm self-employed, how do I pay national insurance?
I'm self-employed, how do I pay national insurance?
If you're self-employed, you actually have to make contributions to Her Majesty's Revenue and Customs. There are two forms of payment. One of them is what is called class two contributions, and that's a small, fixed weekly amount that you pay normally by direct debit. It's very straightforward and simple. The other form is class four contributions, and that's basically a percentage of your profitable earnings for a year. Obviously, the more you earn, the higher the amount will be that you are going to have to pay to Her Majesty's Revenue and Customs.