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Issue:
4472
/
Categories:
Comment & Analysis
, class 2 NICs
, National Insurance
, Employees
, Income Tax
Benefits for non-UK citizens of class 2 National Insurance contributions
KEY POINTS
- Payment of National Insurance brings potential benefits.
- Since 2000 class 2 National Insurance contributions are substantially less than class 3.
- Three years’ UK residence can provide entitlement to pay class 2 contributions.
- A cost-effective way to build up a UK state pension.
Most readers probably feel comfortable dealing with the various aspects of personal income tax that flow across their desks on a daily basis.
However the National Insurance contributions legislation takes up a reasonable proportion of volume three of Tolley’s Yellow Book (about 800 pages since you ask) and I have a suspicion that many of us do not venture into them regularly.
Most clients grudgingly accept that they have to pay income tax on their earnings and probably add a little gripe when advised of the additional...
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