Reclaiming Your Class Four NIC
The time limit for such claims is just about to be reduced as a result of legislation in the 2009 Finance Act, so there is no time to lose – claims for the tax year 2004/05 (the year ending 5 April 2005) must be made by 31 March 2010, and claims for the following year, 2005/06, will go out of date on 5 April 2010.

If you believe you have a case for reclaiming your class 4 NIC, you should first discuss the implications with a tax adviser, as the situation may not be quite as simple as this article suggests, but in many cases, there will be a useful windfall from a claim for repayment of around £15,000.

This tip was first printed in Property Tax Insider in April 2010.

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