Introduction
If you’re employed and earning over a certain amount, you’ll be paying National Insurance Contributions. These are taken from your salary by your employer and paid to the government. But how do you know if you’re paying the right amount? In this article, we’ll explain how to check your National Insurance contributions in 2023.
What are National Insurance Contributions?
National Insurance Contributions are taxes that you pay to the government. They’re taken from your salary by your employer and contribute to the state pension and the health service. There are two different types of National Insurance Contributions: Class 1 and Class 2. Class 1 contributions are paid by anyone who’s employed and earning over a certain amount per year. Class 2 contributions are paid by the self-employed.
How to Check Your National Insurance Contributions
If you’re employed, you can check your National Insurance contributions easily. All you need to do is log into your online banking account or visit your bank’s website. Here you’ll be able to view your payslips, which will include information about your National Insurance Contributions. Alternatively, you can contact your employer and ask them for a copy of your payslips.
How to Check Your Self-Employed National Insurance Contributions
If you’re self-employed, checking your National Insurance Contributions is slightly more complicated. You’ll need to log into your online Self Assessment account to view your contributions. If you don’t have one, you can sign up on the HMRC website. Once you’ve logged in, you’ll be able to view your contributions and make sure you’re paying the right amount. You can also view your contributions by calling the HMRC Self Assessment helpline.
What if I’m Not Paying Enough?
If you’ve checked your National Insurance Contributions and you’re not paying enough, you should contact HMRC as soon as possible. The HMRC Self Assessment helpline can help you to understand what you need to do in order to make up the deficit. You may be able to make a lump sum payment or spread the payments out over a certain period of time.
Can I Claim a Refund?
If you’ve overpaid on your National Insurance Contributions, you may be able to claim a refund. To do this, you’ll need to contact HMRC and explain why you’ve overpaid. You’ll then need to provide evidence to support your claim. If your claim is successful, HMRC will refund you the amount that you’ve overpaid.
Conclusion
Checking your National Insurance Contributions is an important part of managing your finances. If you’re employed, you can easily check your contributions by viewing your payslips. If you’re self-employed, you’ll need to log into your online Self Assessment account to view your contributions. If you’re not paying enough, you should contact HMRC as soon as possible. If you’ve overpaid, you may be able to claim a refund.