I had the same problem yesterday. A client asked me to make the payment and gave me their card details but it was declined twice. They asked me to try again but I was afraid of getting the card blocked so they are sending off a cheque instead.
Thank you to everyone who did reply and just for anyone who has a similar question in the future, it turns out that even though the option for registering as an individual is not there, you choose the self employed/sole trader option and it should let you complete the application (I will go ahead and try!).
Well the trigger as you call it would also bring a benefit for the wife who would get credits towards her state pension so a bit of hassle could well be worth it.
I'm not sure why you think he would have to keep registering and then closing the schemes, I think once the threshold has been breached then the wife will be in the system until the Minister retires.
0.5 Key National Insurance Rates and Thresholds from 6 April 2024
NICs Primary Threshold / Lower Profits Limit £12,570 (annual)
Class 1 NICs Main Rate (from 6 January 2024) 10%
Class 4 NICs Main Rate 8%
Lower Earnings Limit £6,396 (annual)
Small Profits Threshold £6,725 (annual)
Class 2 Rate (for those paying voluntarily) £3.45 (per week)
Class 3 Rate £17.45 (per week)
Those with profits under £6,725 and others who pay Class 2 NICs voluntarily to get access to contributory benefits including the State Pension, will continue to be able to do so. The weekly rate they pay will be frozen at £3.45 for 2024-25, rather than rising by CPI to £3.70.
Got to be honest, I'm struggling to see the justification for class 4 being less than class 1, and would have assumed a cut to the employees' rate would be an opportunity to level it up a bit.
If Class 1 doesn't get a similar 1% reduction i think it'll be scandalous TBH
Unless there is a rabbit coming out of the hat for small limited companies, this is again making self employment more attractive.
My answers
I had the same problem yesterday. A client asked me to make the payment and gave me their card details but it was declined twice. They asked me to try again but I was afraid of getting the card blocked so they are sending off a cheque instead.
Thank you to everyone who did reply and just for anyone who has a similar question in the future, it turns out that even though the option for registering as an individual is not there, you choose the self employed/sole trader option and it should let you complete the application (I will go ahead and try!).
Fair enough, point taken.
Well the trigger as you call it would also bring a benefit for the wife who would get credits towards her state pension so a bit of hassle could well be worth it.
I'm not sure why you think he would have to keep registering and then closing the schemes, I think once the threshold has been breached then the wife will be in the system until the Minister retires.
Yes I did know that but I wondered if that was a specific rule for carers?
0.5 Key National Insurance Rates and Thresholds from 6 April 2024
NICs Primary Threshold / Lower Profits Limit £12,570 (annual)
Class 1 NICs Main Rate (from 6 January 2024) 10%
Class 4 NICs Main Rate 8%
Lower Earnings Limit £6,396 (annual)
Small Profits Threshold £6,725 (annual)
Class 2 Rate (for those paying voluntarily) £3.45 (per week)
Class 3 Rate £17.45 (per week)
From the government factsheet ...
Those with profits under £6,725 and others who pay Class 2 NICs voluntarily to get access to contributory benefits including the State Pension, will continue to be able to do so. The weekly rate they pay will be frozen at £3.45 for 2024-25, rather than rising by CPI to £3.70.
Unless there is a rabbit coming out of the hat for small limited companies, this is again making self employment more attractive.
Got through at 2.29pm so 35 minutes wait in the end.
Just went on the web chat and was met by the following (will let you know how long it actually takes) ...
Thank you for your patience, you are 274 in the queue. Your estimated wait time is 49 minutes 19 seconds.