John Endacott, Tax Partner, Winter Rule, asks if the self-employed have been ejected from the contributory National Insurance system
John Endacott Tax Partner Winter Rule asks if the self-employed have been ejected from the contributory National Insurance system
During a recent discussion at the Treasury on National Insurance it dawned on me that as a self-employed professional the only National Insurance I pay under a contributory basis is £2.10 per week or £109 per year. However I do pay the maximum amount of Class 4 but that is not a benefit-based levy. Whilst my contributions under the National Insurance scheme are nominal my state benefit entitlement is also minimal. This made me wonder whether I had already been thrown out of the National Insurance club along with the rest...
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John Endacott, Tax Partner, Winter Rule, asks if the self-employed have been ejected from the contributory National Insurance system
John Endacott Tax Partner Winter Rule asks if the self-employed have been ejected from the contributory National Insurance system
During a recent discussion at the Treasury on National Insurance it dawned on me that as a self-employed professional the only National Insurance I pay under a contributory basis is £2.10 per week or £109 per year. However I do pay the maximum amount of Class 4 but that is not a benefit-based levy. Whilst my contributions under the National Insurance scheme are nominal my state benefit entitlement is also minimal. This made me wonder whether I had already been thrown out of the National Insurance club along with the rest...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
