Class 2 and 4 NIC age exception
Dcollins
Registered Posts: 177 Dedicated contributor 🦉
I understand that people above state pension age don't need to pay class 2 & 4 NIC and can apply for an age exception certificate, although it's not essential for self-employed people to have the certificate.
So my question is: if someone reaches state pension age on, say 5th July, would they pay class 2 up to 5th July, then class 4 on 3/12ths of their profit for the tax year?
So my question is: if someone reaches state pension age on, say 5th July, would they pay class 2 up to 5th July, then class 4 on 3/12ths of their profit for the tax year?
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Comments
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For class 2 you stop when you hit state pension age.
For class 4 you stop in the following tax year.0 -
Thank you, I knew it was worth checking.0
