Folkes Worton Insight

Working past retirement age

There are many taxpayers who have reached the State Pension age and continue to work. In most cases they no longer need to pay any National Insurance Contributions (NICs). At State Pension age, the

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Folkes Worton Insight

NICs and termination payments

The National Insurance Contributions (NICs) Bill was introduced into Parliament on 25 April 2019. The Bill will see the introduction of a new 13.8% Employer Class 1A NIC charge on termination payments

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Folkes Worton Insight

National Insurance if you go abroad

If you move abroad it can often be advantageous to continue paying your UK National Insurance Contributions (NICs) in order to preserve your entitlement to the State Pension and other benefits. If you

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Folkes Worton Insight

Checking your NIC records

HMRC offers an online service to check your National Insurance Contributions (NIC) record online. In order to use the service, you will need to have a Government Gateway account. If you don't have an

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Folkes Worton Insight

Checking a National Insurance Record

HMRC offers an online service to check a National Insurance record. In order to use the service you will need to have a Government Gateway account. If you don't have an account, you can apply to set

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Folkes Worton Insight

Taxation of termination payments

In the 2016 Budget, the government announced that termination payments over £30,000 would be subject to employer National Insurance Contributions (NICs) from April 2018. In the 2017 Budget, the

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Folkes Worton Insight

What are National Insurance credits?

National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the amount of qualifying years of National Insurance

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Folkes Worton Insight

Class 3 NICs

Class 3 National Insurance Contributions (NICs) are a voluntary contribution paid by those wishing to fill gaps in their NICs contribution record and can be used by taxpayers who have not made

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