Government has extended the voluntary national insurance (NI) deadline

This week HMRC announced that Taxpayers will have more time to fill gaps in their National Insurance (NI) record, as the government has extended the deadline for voluntary contributions until 31 July 2023. Originally, the deadline was set for 5 April 2023.

The decision was announced in a written ministerial statement in response to a surge in customer contact experienced by HM Revenue and Customs (HMRC) and the Department for Work and Pensions (DWP). Eligible taxpayers can make voluntary contributions for incomplete years between April 2006 and April 2016 to increase the amount they receive in state pension upon retirement. All voluntary NICs payments will be accepted at the current 2022/23 rates until the new deadline.

According to Financial Secretary to the Treasury, Victoria Atkins, the extension was granted in response to public concerns about state pensions. The government recognizes the importance of state pensions for retired individuals, and is therefore offering more time for taxpayers to bolster their entitlement by filling any gaps in their NI record.

HMRC has also highlighted that taxpayers with incomplete years in their NI record may benefit financially in their retirement by making voluntary contributions to top up any missing or incomplete years.

Source: HMRC