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  • RE: Self Assessment and Class 2 NI

    "If your net profit is £6725 or above, then you are required to pay class 2 National Insurance contributions of £3.45 per week, £179.40 per year." Admin 19 Response 5 months ago ??? I just filled in a self assessment online where its says class 2 NIC is treated as paid above £6275 but below £12500. Pension entitlement preserved without having to pay NIC. Below 6275 voluntary payment must be made of £179.40, above 12500 payment must be made as calculated by HMRC. The Youtube video by HMRC "class 2 national insurance contributions and your 2023 to 2024 self assessment return" at 0:38 states that if your profits above the 'small profits threshold' of £6275 but below the 'lower profits threshold' then class 2 NIC is treated as paid. So .......is the post above misleading and incorrect, or is the website and YouTube video incorrect. (Very important as cannot afford to miss a years pension contribution approaching retirement and need every year till then paid up.)