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Originally posted by fakedirt
reply to post by girdermonkey84
if i were you i would pay it asap as well as setting up a direct debit for the future. the national insurance contribution will give you a state pension upon retirement (hopefully!). if it isn't paid then you will get a reduced income when you come down from the columns. whatever you and i as well as others who are self employed get when we 'retire' is in the lap of the gods. i know of a builder who hasn't paid his for several years and recently he had trouble accessing benefits when sick. they apparently make you aware of your shortfalls with regards to ni contributions in most government departments.
Originally posted by girdermonkey84
i am a self employed steel erector,i have to pay national insurance at about £30 quarterly,i know this is not alot of money at all but my question is...do i have to pay this?and if i dont what are the reprocutions if i dont?? it is classed as a national insurance "CONTRIBUTION" now i am by no means very clever but i understand the meaning of the word contribution,i havent paid it for quite a while i "owe" about £200, i have the odd letters asking me to pay my contribution but what if i dont want to contribute? what are your thoughts on this guys? i really dont understand it at all so if you could explain it in a simple way i would be very greatful,