Many people are unaware that you can claim back National Insurance Contributions while working in the UK. This is different from a tax rebate which you can only do when arriving and leaving the UK. An NI (National Insurance) Rebate can be claimed at anytime and only needs to be done once (from there on it is automatically done for you each year).
What is a NI Rebate?
Much of your National Insurance goes towards the UK State Second Pension. This is a voluntary scheme and any individual working in the UK can choose to take this money for them self instead. The money can’t be given to you in cash but is rather put into your own personal pension. For an average person working on a salary of £30,000 the rebate will be around £1,645. For foreigners this is a no brainer since this rebate will be far more beneficial than expecting to receive a pension from the UK government when you eventually retire and aren’t even living in the country.
Please note that this service is not provided by Sos Taxes and is offerd by a 3rd party, Sable Private Wealth Management Ltd (trading as NIrebateonline) who is authorised and regulated by the FSA.
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