Hi.What makes you think you may have overpaid your NI contributions? Have you always been just self-employed and not self-employed and employed at the same time? Can you tell me your date of birth please.
Thank you for your reply. My date of birth is 28/02/51. For the first 8 years of my working career i was employed. For the rest of my career i was SELF employed only.
Thank you for your reply. My date of birth is 28/02/51. For the first 8 years of my working career i was employed. For the rest of my working career i was SELF EMPLOYED ONLY. I have paid N.I contributions for 43 years. Have i overpaid?
Hi again.When you were employed, you would have paid Class 1 NIC and this would have been deducted from your salary or wages by your employer.As a self-employed individual, you would have been liable for the flat rate Class 2 NIC which is currently charged at £2.75 per week if your self-employed earnings are at least £5,885 per annum. You would also have paid Class 4 NIC with your tax. This is currently charged at 9% on profits between £7,956 and £41,865 per annum and at 2% on profits over and above £41,865.I cannot possibly tell you whether you are overpaid on your NIC as I don't have access to your payment record. However, it is very unlikely that you are overpaid as your Class 4 NIC is worked out with your tax so it is reliant on the submission of accurate figures in your tax returns. As a self-employed man who will be 65 on 28 February 2016, the last tax year you should pay NIC for will be the 2015/16 tax year assuming you don't stop working before then. At that point, you will be entitled to your state pension. Take a look here for more information.The procedure to follow if you wish to learn if you have paid too much NIC is set out here. If you were employed and self-employed at the same time or you had two jobs at the same time, there is no time limit for a claim. If you have overpaid for any other reason, you can only go back to 2008/09 and any claim for that year needs to be made by 5 April 2015.I hope this helps but let me know if you have any further questions.