Budget Summary 2016/17

National Insurance Contributions

Class 2 NIC

National Insurance for the self-employed is to be simplified. Class 2 NIC will be abolished from 6 April 2018 and class 4 NIC will be reformed to enable the self-employed to continue to earn entitlements to the state pension and certain contributory benefits. This role is currently performed by Class 2 NIC, payable for 2016/17 at a rate of 2.80 per week where profits exceed 5,965 a year.