National Insurance Contributions

Published 23 March 2023
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The Government have extended the deadline for making voluntary National Insurance Contributions in order to give taxpayers the opportunity to fill in any gaps in their State Pension record for the period between April 2006 and April 2016.

The new deadline is 31 July 2023 (previously 5 April 2023). After 31 July 2023 this opportunity will be lost and individuals will only be able to make up shortfalls for the past 6 tax years.

Anyone who is retiring requires around 35 years qualifying years in order to claim the full state pension.

If anybody is unsure if they have enough qualifying years (maybe because of a period of un-employment or because they are, or have been, self employed), then they should check their NI record if they believe they won’t be able to make up any shortfall in their remaining working life.

The easiest and quickest way to check your NI record is using the following link to set up a personal tax account. The link also provides alternate ways of obtaining a State Pension forecast:-

https://www.gov.uk/check-state-pension
 
If you require any advice or help on this matter please contact us.

Mayes Accountants
Tel:  01254 300050
Email:  [email protected]