Question 1

Why am I being charged Class 2 National Insurance in my 2024/25 Self-Assessment?

Accepted Answer

Some self-employed taxpayers are mistakenly charged Class 2 NICs due to an HMRC IT issue. If your profits exceed £12,570, you should only pay Class 4 National Insurance, not Class 2. Always check your self-assessment 2024/25 calculation to ensure it is correct.

Question 2

Do I need to pay Class 2 NICs through Self-Assessment for 2024/25?

Accepted Answer

No. From 6 April 2024, Class 2 NICs are voluntary for self-employed individuals with profits below £6,725. Voluntary contributions can help build qualifying years for your State Pension, but if your profits are above this threshold, Class 2 should not appear on your self-assessment.

Question 3

What should I do if my Self-Assessment shows the wrong Class 2 NIC charge?

Accepted Answer

If you’ve filed your 2024/25 self-assessment and notice an incorrect Class 2 NIC charge, contact HMRC to request a correction. If you haven’t filed yet, consider waiting until HMRC resolves the issue (expected by September 2025).

Question 4

What happens if I already paid the incorrect Class 2 NICs through Self-Assessment?

Accepted Answer

HMRC will refund or credit any incorrect Class 2 NIC payments to your self-assessment account once the error is fixed. Keep proof of payment and HMRC correspondence for reference.

Question 5

When is the deadline for submitting my 2024/25 Self-Assessment?

Accepted Answer

The online filing and payment deadline for 2024/25 self-assessment is 31 January 2026. The HMRC Class 2 NIC error does not affect this deadline. Submit on time to avoid late filing penalties.

Property Developers and CIS: 2025 Compliance Guide | Trueman Brown

Tax allowances frozen until April 2026

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