The national insurance contributions deadline extended by HMRC
Further to our previous post on voluntary contributions, the National Insurance deadline has been extended and taxpayers will now have until 31 July 2023 to make voluntary contributions going back to April 2006. The government has announced that contributions made in this window will be at the 2022/23 voluntary NI rates.
It is normally possible to make voluntary NI contributions for the past six tax years, to top up any missing or partial years of a taxpayer’s NI record. If a taxpayer does not have enough full years of NI contributions, this may affect their entitlement to the state pension, as well as other benefits.
The National Insurance Contributions deadline has been extended by HMRC. There is currently an extension in place that allows individuals to fill gaps in their NI contributions history from 6 April 2006 to the present date via voluntary contributions. This was due to end on 5 April 2023.
The government has now announced that the extension will end on 31 July 2023. Contributions made between 6 April and 31 July 2023 will be at the voluntary NI rates for the 2022/23 tax year of £15.85 per week. This allows taxpayers more time to identify and plug historic gaps in their NI record.
From 1 August 2023, the timeframe for making voluntary contributions will revert to the usual six years. From that date, it will be possible to make contributions going back to the 2017/18 tax year only. Contributions will be made at higher voluntary NI rates of £17.45 per week. These higher voluntary NI rates were due to apply from 6 April 2023 but will not apply where payments are made by 31 July 2023 under the extension.
For more detail on how taxpayers can check their NI record, visit Gov.UK
For more information on National Insurance, how much you need to pay, who pays it, how many years you need to contribute to get a full state pension and how you may be able to claim credits etc, read our National Insurance Contributions article