From 6 April 2024, self-employed people with profits above the small profit threshold are not be required to pay Class 2 NIC but still have access to contributory state benefits including the state pension.

The option to voluntarily pay Class 2 NIC where profit levels are below the small profit threshold of £6,845 is available in order to allow self-employed people to obtain NIC credits and the rate is a weekly rate of £3.50 for 2025/26 (£3.45 for 2024/25).

The commentary below therefore applies up to 5 April 2024 and to those wishing to voluntarily pay Class 2 NIC.

For Class 4 contributions, see the Class 4 national insurance contributions guidance note. For relevant types of NIC in relation to employed people, see the Overview of NIC Classes, rates and thresholds guidance note.