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Small Profits Threshold – LG

“If you are Self-Employed with profits below the Small Profits Threshold (currently £6,725), you are not required to pay any Class 2 NICs however you may wish to consider making voluntary payments in order to avoid any gaps in your NI record for the purposes of your state pension entitlement. From 2022/23 onwards, if your profits exceed the Small Profits Threshold but not the Lower Profits Limit, you will be treated as having made Class 2 NIC without needing to pay anything.

You can check your NI record online through your personal HMRC login, or you can write to HMRC to request a printed NI statement.”

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