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The deadline for making class 3 National Insurance payments for tax years from 1996/97 to 2001/02 tax years is fast approaching. Taxpayers entitled to make payment for the years must do so no later than 5 April.
Back payments must usually be paid within six years of the end of the tax year to which the contributions are related.
If payments are made more than two years after the end of the relevant tax year, the rate is likely to go up. However, special terms apply for the 1996/97 to 2001/02 tax years where the time limits for the payment of voluntary class 3 contributions were extended to 5 April 2010.
This applies to taxpayers who reach the state pension age before 24 October 2004, who are allowed to pay contributions at their original rate provided payment is made by 5 April.
Payments received after the deadline will not be accepted.
