PracticeConsultingNIC reduction for fishermen.

NIC reduction for fishermen.

Class 2 national insurance contributions for share fishermen are to be cut from £7.20 per week to £2.65 per week from 6 April, paymaster general Dawn Primarolo has announced. Share fishermen do not pay the standard rate of Class 2 NICs generally payable by the self-employed. Instead they pay a special rate which takes into account the fact that, in addition to state retirement pension, widow’s benefits, Incapacity Benefit and Maternity Allowance, they are entitled to claim Jobseeker’s Allowance which is not available to those who pay standard rate Class 2 NICs.

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