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Class 2 is to be abolished and the self-employed will have to pay more expensive Class 4 contributions.
The Low Incomes Tax Reform Group (LITRG) is urging self-employed workers with low profits to check their National Insurance record and make up any deficiencies before voluntary contributions become more costly. From April 2018, class 2 is to be abolished and self-employed workers will have to pay more expensive class 4 contributions to build up entitlement to contributory benefits.
Anthony Thomas, chairman of LITRG, said self-employed workers should check their National Insurance record for the past six years to ensure there are no gaps and, if there are, ‘plug them by exercising their right to make back-payments of class 2 in the relevant years’.
