Showing results for tags 'exception'.
Found 2 results
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I was registered as self employed between 2011 and 2017. This was a small sideline along side my main PAYE income (so my NI contributions are already made up for the years in question), and me SE profit was generally about £1500 per year (highest was about £2500). Now I've just had a letter from HMRC demanding Class 2 NIC for 2011 to 2015. Don't know why they've only just written to me about it, first I've heard from them on this subject since 2011. I was always under the impression that as my income was below the small earnings exception, I was exempt from having to pay class 2 NIC? I seem to recall dealing with this matter back in 2011, and I'm pretty sure I sent them a CF10 form back then (although I didn't keep a copy of that myself). Should I just write to them stating that I believe I was exempt due to earnings below the threshold? Obviously this is reflected in my SA tax returns. Are they likely to just accept that? It seems odd that if they think I should have been paying class 2 NICS for all these years, why haven't they chased it before now?
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Hi I've been working hard for the past year trying to set myself up in business as a sole trader, and finally I think I might have got my foot in the door with a very important client that could secure me maybe even a minimum liveable income for potentially life. I have some questions. From the perspective of the benefits I currently am in receipt of, ie. working tax credits and housing benefit, can I take some of the money from what I'm paid and put it back into my company? What do I keep aside for the tax thieves, 20%? Or should I save 30% to cover myself? Is there any where on the internet or elsewhere i can find out a rough idea of how much money I should negotiate? I don't want to over or under, just a little over the going rate and not too much that I turn them away. Do these things tend to work like they do on the telly?
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