You pay National Insurance if your profits are above £5,885. You’ll pay more when your profits rise above £7,956.

Rates for the 2014 to 2015 tax year

Annual profits Class 2 Class 4
Up to £5,885 £0 but only if you get a small earnings exception £0
£5,885.01 to £7,956 £2.75 a week £0
£7,956.01 to £41,865 £2.75 a week 9% of profits between £7,956.01 and £41,865
More than £41,865 £2.75 a week 9% of profits between £7,956.01 and £41,865 and 2% over that amount

How to pay

Pay your Class 2 National Insurance through your bank, at the Post Office or by post.

You pay Class 4 National Insurance through your Self Assessment tax return.