ChatterBank3 mins ago
National insurance benefits for self employed
4 Answers
What do class 2 and 4 insurance payments entitle you to.
I have been going in small circles round various government websites but can't see.
Do you get a pension? Sick pay? Unemployment benefit (I suspect not but can't find any evidence)
I have been going in small circles round various government websites but can't see.
Do you get a pension? Sick pay? Unemployment benefit (I suspect not but can't find any evidence)
Answers
Best Answer
No best answer has yet been selected by dancecaller. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Class 2 must be paid by self employed people unless their income is minimal.
Class 2 National Insurance contributions give entitlement to a range of contributory benefits
* Incapacity Benefit
* Maternity Allowance
* Basic State Pension
* Bereavement Benefits
o Widowed Parent's Allowance
o Bereavement Allowance
o Bereavement Payment
Class 4 insurance does not give any more benefits and is payable if your profits are above a limit. It is a stealth tax.
I hope this link works which will explain Class 4:
http://www.hmrc.gov.uk/nic/class4.htm
Class 2 National Insurance contributions give entitlement to a range of contributory benefits
* Incapacity Benefit
* Maternity Allowance
* Basic State Pension
* Bereavement Benefits
o Widowed Parent's Allowance
o Bereavement Allowance
o Bereavement Payment
Class 4 insurance does not give any more benefits and is payable if your profits are above a limit. It is a stealth tax.
I hope this link works which will explain Class 4:
http://www.hmrc.gov.uk/nic/class4.htm