Cost of years NI stamp?

[Olly]

Hi there, just a few quickies.

Anyone know what the cost of buying a year's NI 'stamp' is when you have no earnings in that year?

Second is £4750 or something like that before NI kicks in?

Finally how come I can get a "contributing year" by paying myself £4750 but if I pay myself less then I have to buy the rest.....it's got me a bit confused.

Thanks Oliver

[Maslins]

No idea how much to buy a year, but think I can answer the other questions.

Here is HMRC's NI tables. Paying yourself more than the lower earnings limit (£4,940 if paid weekly in current year) means you gain your "stamp" for that year.

Bizarrely you don't have to actually pay any NI until you earn above the primary threshold (£5,720 if paid weekly in current year). Therefore paying yourself somewhere between these two figures (typically equal to the top one) means you gain full entitlement to things like state pension etc, without actually paying over a penny in NI.

If you earn less than the lower earnings limit you're not deemed to have contributed enough for that year (even though you'll contribute exactly the same amount (zero) as someone paid £5,720).

[Olly]

Crikey that's feckin messed up...I mean tooooooooootallly fecked
The mind boggles

Thanks

P.S. What does "paid weekly" mean? I pay myself randomly