17 November 2012 | Uncategorized
It is possible to overpay National Insurance even if your only source of income is from employment income.
There are two scenarios where this can happen:
If you overpay, the good news is that the Inland Revenue will pick this up quite quickly, and will write to you to check and arrange the refund within about 6 months of the end of the tax year. The process is quite simple, although the form itself is quite daunting.
If you pay other types of NI then there is a similar process to reclaim the overpayment.
We have noticed that employees whose employers who have moved their operations to the Channel Islands, are particularly likely to be in this position; and the Wood Group is the most recent example.
If you need more help with this, please contact Angus Nicolson.
31 Lynedoch St.
71 King Street
Main switchboard: +44 (0)141 237 3878
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