Class 2 NIC - changes to payment date
Date: Thursday 20th January, 2011
Author: Cathy Corns
Profile: Cathy Corns
HMRC announce that from April 2011, Class 2 National Insurance contributions will be payable on 31 January and 31 July, the same dates as Self Assessment tax bills.
Just in case you missed the announcement from HMRC, from April 2011, Class 2 National Insurance contributions will be payable on 31 January and 31 July, the same dates as Self Assessment tax bills.
You should receive two payment requests from HMRC in the year, in October and April, showing payments due to 31 January and 31 July respectively.
If you already pay by direct debit, your payments will be delayed by HMRC to bring the payment dates into line. This means that:
- For the first year only, monthly Direct Debits will stop for a short period and then start again.
- Class 2 contributions due for April 2011 will be requested from your bank in August 2011.
- Payments thereafter will be monthly unless you choose to pay 6 monthly from April 2011.
A new option to pay 6 monthly Direct Debit, collected in January and July each year, will be available from April 2011 for those who do not wish to spread their payments.
Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Cathy you can call her on 01908 605552.
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Keywords: 'HMRC' 'Class 2 National Insurance contributions' 'Self Assessment tax bills' 'Direct debits'
Please note that the opinions expressed in this blog represent the views of the author and not the views of Mercer & Hole.