National Insurance Services
Whether you are an employer, employee or self-employed it is vital that you comply with your national insurance contributions as these go towards paying for your State Pension Entitlement, The NHS, Unemployment Benefit, Sickness and Disability Allowances etc.
Class 1, 1A & 1B are deducted by the employer and paid through a PAYE scheme
Class 2 National Insurance contributions are paid at a flat rate. However, if your profits are below £5,725 per year (2013-14) you might not need to pay class 2 National Insurance and we can apply for a Certificate of Small Earnings Exception on your behalf.
Class 4 National Insurance is paid at the end of the tax year through your self-assessment tax return. Class 4 National Insurance is based on a percentage of the profits (not turnover) over £7,755 and below £41,450 (2013-14) at a rate of 9% (2013-14). For any profit over £41,450 there is an additional 2% to pay.
Should you be unable to pay Class 2 NI for a period due to illness, or receiving benefits you may be able to claim national insurance credits which can help maintain your National Insurance record. Again Shires can assist you in claiming these.
We would be pleased to offer any advice you may require for NI contributions.