13 Jun 2016

A question about : Unpaid Class 2 NIC

I have been a sole trader since 2000. I have submitted yearly tax returns and paid both tax due and Class 4 NIC
I can't believe how stupid I have been because as of today I was totally unaware of Class 2 payments. I therefore have 14/15 years of unpaid contributions. As I am only two years away from pensionable age what do I do, what penalties should I expect, any advice would be gratefully appreciated.

Best answers:

  • How did you get away with it for so long? Surely HMRC would have sent bills.
  • I believe that you can go back 6 years when paying a NI shortfall via voluntary, Class 3 contributions.
    If you have been completing tax returns and paying Class 4, you might be able to avoid penalties by saying that HMRC never billed you.
  • Could you have started a Direct Debit for this purpose which has run and run? Did you ever claim exemption on the grounds of low earnings?
Category: 
Small Biz & Charities' MoneySaving
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