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Deadline extended for voluntary NIC’s.

The government has announced that taxpayers will now have until 31 July 2023 to make voluntary national insurance (NI) contributions.

We recently published an article stating an April 5th deadline for filling in any holes of missed years in NI contributions.

The new deadline is now 31 July 2023, meaning further respite is now afforded to those concerned about not reaching the qualifying thresholds of 35 years of NI contributions for the maximum state pension or 10 years for any state pension at all.

This will be a welcomed extension allowing taxpayers more time to investigate their historical contributions dating back to 6 April 2006.  It’s important to take advantage of this catch-up period as from 1 August 2023 the voluntary contributions timeframe will revert to the usual 6 years.

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If you wish to discuss your position with us, get in touch with our Private Client tax team.