Government extends deadline for self-employed to make voluntary National Insurance contributions
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Posted: Wed 14th Jun 2023
The government has given taxpayers, including self-employed individuals, more time to to fill gaps in their National Insurance record that may increase the value of their State Pension.
The deadline is now 5 April 2025 instead of the original 31 July 2023 date.
HM Revenue & Customs (HMRC) said it means men born after 5 April 1951 and women born after 5 April 1953 have more time to properly consider whether paying voluntary contributions is right for them and if it could boost their State Pension entitlements.
As well as self-employed individuals who did not pay contributions due to small profits, other people who may benefit include those who have been:
employed but with low earnings
unemployed and not claiming benefits
living or working outside of the UK
Victoria Atkins, financial Secretary to the Treasury, said:
"People who have worked hard all their lives deserve to receive their State Pension entitlement, and filling gaps in National Insurance records can make a real difference.
"With the deadline extended, there is no immediate rush for people to complete gaps in their record and they will have more time to spread the cost."
Paying voluntary contributions does not always increase your State Pension. Before starting the process, HMRC said eligible individuals with gaps in their National Insurance record from April 2006 onwards should check whether they would benefit from filling those gaps.
Visit the government website to obtain a State Pension forecast, decide if making a voluntary National Insurance contribution is worthwhile for you, and how to make a payment.
You can check your National Insurance record through your personal tax account.
All relevant voluntary National Insurance contributions payments will be accepted at the rates applicable in 2022 to 2023 until 5 April 2025.
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