National Insurance Contributions - can you pay too much?
October 2005
Indeed you can!
For readers of our newsletter who are not clients you should apply for a refund if your NIC contributions for 2004-2005 have exceeded:
Employed and/or self-employed
If your combined national insurance payments have exceeded £3,025.77. (This could comprise class 1, class 2 or class 4 contributions)
Self Employed only
If your payments have exceeded £2,266.65. (This will be made up of class 2 and class 4 contributions only).
Losses in self employment are also losses for NIC purposes and should be taken into account when calculating a potential overpayment.
Claims are subject to a six year time limit. If you would like a quote for us to make the claim for you, please call for an appointment.
