Am I a sole trader and should I be paying NI contributions?

[smallcheese]

I am freqently asked on forms whether I am emplyed or self-emplyed. I believe, as an owner and manager of holiday homes, that tecniquely I am a 'sole trader', which I guess, means I am self employed. Does that mean I should be paying Class 2 National Insurance contributions? Anyone got any ideas?

[Alan Knighting]

I am freqently asked on forms whether I am emplyed or self-emplyed. I believe, as an owner and manager of holiday homes, that tecniquely I am a 'sole trader', which I guess, means I am self employed. Does that mean I should be paying Class 2 National Insurance contributions? Anyone got any ideas?

If you are self-employed, and according to your self-description you are, you are liable for the payment of Class 2 National Insurance contributions. The basic rule is that if you want to receive State Benefits you have to make contributions under either Class 1 or Class 2.

You’ll find a lot more if you go to State Benefits.

Alan

[Mountain Goat]

I'm probably out of date with info, but it depending on your circumstances it may be worth keeping up even voluntary contributions, to ensure a UK state pension, especially if you've had working periods abroad.

MG

[Christine Kenyon]

I'm self employed (run B&B and holiday cottages) and definitely pay monthly NI contributions. Your accountant should be able to advise.