Do self-employed individuals need to take responsibility for their own National Insurance Contributions?

National Insurance is essentially a contribution you make towards certain state benefits, including the State Pension and unemployment benefits. Now, when you're employed by a company, your National Insurance contributions are automatically deducted from your wages by your employer, who also makes contributions on your behalf. However, when you're self-employed, the responsibility shifts entirely to you. You're essentially running your own business, so you're both the employer and the employee. This means you need to calculate and pay your National Insurance contributions directly to HM Revenue and Customs (HMRC). There are different classes of National Insurance, and self-employed individuals usually pay Class 2 and Class 4 contributions, depending on their profit levels. So, the key takeaway is that unlike being employed, where it's all handled for you, being self-employed means you're in charge of managing and paying your own National Insurance.