Is Class 2 NIC really abolished?

Yes. Class 2 NIC for self-employed was abolished from April 6, 2024. Self-employed individuals with profits above the Lower Profits Limit still receive a National Insurance credit toward state pension without paying Class 2.

What is the new Class 4 rate?

Class 4 NIC dropped to 6% on profits between £12,570 and £50,270 from April 2024, reduced from 9% in the 2024 Spring Budget. 2% applies above the upper profits limit.

UK Self-Employed Class 2 and Class 4 NIC Calculator

Calculate National Insurance for UK self-employed individuals: Class 2 abolished from April 2024 while maintaining state pension credit, and Class 4 at 6% (reduced from 9%) on profits £12,570–£50,270.

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Frequently Asked Questions

Is Class 2 NIC really abolished?

What is the new Class 4 rate?