Most people will know that it is possible to claim a tax refund if they’ve paid too much income tax, and some may even have received a tax refund before. However, not a lot of people realise that you can also claim refunds for overpaid National Insurance (NI) contributions.
There is a limit to the NI contributions each person needs to pay, whether they are employed or self-employed. However, there are some circumstances and situations in which you may pay too much NI, such as the following:
1. You had more than one job in a tax year and earned more than a certain amount a week
2. You were both self-employed and employed within the same tax year
3. You reached State Pension age yet your employer continued to take NI contributions or you were self-employed and continued to pay NI
How to claim a NI refund
Reclaiming overpaid National Insurance contributions is just as easy as claiming a tax refund. Sometimes HMRC will get in touch with you about NI overpayment and simply give you a refund, but if you haven’t been notified you can get in touch with the relevant HMRC department.
A much easier method is to use a tax rebate specialist to make your claim for you. Simply enter a few details, pay a small fee and have everything handled for you.
