Published: 11/04/2023 By Hannah McCormackHMRC has moved the deadline to 31st July 2023 for taxpayers to make top up payments to fill in any gaps on their National Insurance (NI) record. Ensuring there are no gaps in an NI record can increase the amount a taxpayer will receive in State Pension upon retirement.
The previous deadline of 5th April 2023 was extended due to the high volumes of calls to HMRC from taxpayers wanting to make additional payments as the payment can only be done over the phone. The Financial Secretary to the Treasury - Victoria Atkins stated “We’ve listened to concerned members of the public and have acted. We recognise how important State Pensions are for retired individuals, which is why we are giving people more time to fill any gaps in their National Insurance record to help bolster their entitlement. Thousands of taxpayers with incomplete years in their National Insurance record could be financially better off in their retirement if they make voluntary payments to top up any incomplete or missing years.”
The update announced on 7th March, confirmed that anyone with gaps in their NI record from April 2006 onwards (previously capped at 6 years) now has an extended period to call in and make a payment if they wish; these payments will also be made at the 2022/23 tax year rates (lower than 23/24 rates).
To check how much state pension you are currently forecast to receive visit the gov website also read our blog ‘Pay missing National insurance before the tax year is up!’ for examples and further details on who should perhaps make additional payments depending on your age and personal circumstances.