Hi, I am self employed and usually pay class 2 NI. 2020/21 tax year has seen my earnings (including SEISS grant) dip way below the class 2 NI threshold. I have 2 children under 12 whom I receive child benefit for. Am I right in thinking I can get an automatic NI credit for this year because I have children under 12 and have earnt under the class 2 NI threshold? So on my self-assessment I do not need to select 'opt to pay NI'?
I've tried looking on the GOV.UK site and I am finding it really confusing and going around in circles!
My friend who is self-employed too says she has never opted to pay the class 2 NI even though her self employed earnings are in the class 2 threshold. She says because she has 2 children under 12 and child benefit she gets an NI credit automatically. Have I been paying the class 2 NI unnecessarily??
Very confused! Thanks in advance for your help.
I've tried looking on the GOV.UK site and I am finding it really confusing and going around in circles!
My friend who is self-employed too says she has never opted to pay the class 2 NI even though her self employed earnings are in the class 2 threshold. She says because she has 2 children under 12 and child benefit she gets an NI credit automatically. Have I been paying the class 2 NI unnecessarily??
Very confused! Thanks in advance for your help.