The Government has announced that tax-payers now have until 31 July 2023 to make voluntary National Insurance (NI) contributions going back to April 2006. They have announced that contributions made during this window will be at the 2022/23 voluntary NI rates.
It is normally possible to make voluntary NI contributions dating back 6 years but, currently, there is an extension in place that allows individuals to fill gaps in their NI contribution history from 2006 to present date. This was due to end at the end of the current financial year to 5 April 2023. This has now been extended to 31 July 2023. The contributions made between 6 April and 31 July 2023 will be at the voluntary NI rates for the 2022/23 tax year of £15.85 per week. This allows taxpayers more time to identify and plug historic gaps in their NI record.
From 1 August 2023 the timeframe for making voluntary contributions will revert to the usual 6 years and, going forward from that date, it will only be possible to make contributions going back to the 2017/18 tax year. Contributions will be made at the higher voluntary NI rate of £17.45 per week.
This is particularly important if you are nearing retirement age. Anyone who is retiring on or after 6 April 2016 must have 35 qualifying years of NI contributions. If you are younger, it is also worth getting your NI contributions record up to date as most probably, if there are gaps in it, you will be grateful nearer the time of your retirement.
Do call HMRC on 0300 200 3500. Their opening hours are Monday to Friday 08:00 to 18:00. They are closed on Saturdays, Sundays and Bank Holidays.
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