Handbook for Self-employed Persons - National Insurance Scheme

03Payment of Contributions and Levies by Self-Employed PersonsIt is compulsory for self-employed persons to be insured and contributions are payable quarterly.Payments must be made on the Contributions Schedule and Payment Certificate provided bythe National Insurance Office. (See Contributions Schedule and Payment Certificate at Annex 2).­Contributions should be paid within fifteen (15) days after the end of the calendar quarter forwhich they are due. Failure to pay at the proper time will result in a penalty for late payment in theform of interest at the rate of one per cent per month.Contributions and training levy are payable on insurable earnings up to a maximum of $3,900 permonth for persons between age 16 and pensionable age, while for those persons under 16 andover pensionable age only pay the training levy of 0.5% and the catastrophe fund of 0.1%.Contributions and levy are made up as follows:-2007 2008 2009­ ­% % %­ ­ ­­National Insurance 13.50 13.50 13.50Non-contributory 2.00 2.00 2.00Training Fund 0.50 0.50 0.50Catastrophe Fund 0.10 0.10 0.10TOTAL 16.10 16.10 16.10­ ­Contributions payable by a self-employed person are based on his/her earnings from self-­employment, during the period of one year immediately preceding the contribution year in whichthe contribution is due. However, where the person has been self-employed for less than a year,or where he/she asks the Board to do so or where it so decides, the National Insurance Boardwill determine the rate of contribution. For these purposes the Board may require evidence of­earnings.