Plans to simplify the way self-employed people pay National Insurance Contributions (NICs) have been published for consultation by HM Revenue and Customs (HMRC).
HMRC is exploring whether it would be simpler and more straight-forward to collect these contributions alongside Class 4 NICs and Income Tax through the Self Assessment (SA) process. Self-employed people are required to file an annual SA return and the Class 4 NICs paid by self-employed people are already collected through SA.
This aims to reduce the administrative burden on self-employed people.
The self-employed and those who represent them are encouraged to respond to the consultation. The closing date is 9 October 2013 and, based on the responses received, HMRC will review the current system of collecting Class 2 NICs.
Issued by HM Revenue & Customs Press Office
HM Revenue & Customs (HMRC) is the UK’s tax authority.
HMRC is responsible for making sure that the money is available to fund the UK’s public services and for helping families and individuals with targeted financial support.