National Insurance Contribution (NIC)
Apart from paying Income Tax, as both self-employed and employed you must pay National Insurance Contribution (NIC). National Insurance (NI) is an obligatory state insurance scheme to build up your individual entitlements to certain state benefits, including National Health Service (NHS) and state retirement pension.
The NIC amount you pay depends on your income and on whether you are employed or self-employed. There are different schemes of paying NIC for the self-employed and employees. You stop paying NIC when you reach state pension age.
Capital Business Links Ltd will be happy to assist you in any organizational matter concerning your National Insurance Contributions (NIC). For this purpose, please contact us on telephone number 0208 567 99 44 or at our e-mail address.