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Found 7 results

  1. 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 se
  2. Hi, Sorry for the basic question but I'm struggling to find an answer. As a sole trader, do I pay class 4 NIC's on my personal tax allowance or do i deduct my expenses AND personal allowance from my gross profit and then pay class 4 on what remains? Thanks
  3. I am currently on ESA SG and in the middle of being reassessed. I am as always worried about losing my ESA. I am also due to be moving in with my partner in a few months and as they earn over the threshold I will lose all money anyway but at least if I am on ESA my stamp will get paid so I will still qualify for my pension in future. If I lose my ESA it won't change the fact that I am currently unable to work but I won't get my NIC paid. I s there anything I can do to get round this issue? Could I for example become self employed and just pay my stamp myself it it wou
  4. 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 w
  5. racy tracy

    Class 4 NIC

    Hello people, im hoping someone out there will be able to help me. Does anyone know at what point Class 4 National Insurance Contributions are paid and deducted. I'l try and explain........my partner is a self employed/sub contractor builder. His boss pays him a wage every week from which he has already deducted tax......then every 6 months my partner gets an invoice from the HMRC to pay his Class 2 contributions. His last self assessment for April 2011/12 was done by a chartered accountant (which happens to be his boss's sister). She offered to do it for him because my partner has no idea how
  6. Hiya everyone. I am very confused and scared about my situation. I will explain a bit and it will hopefully make sense. I work from home as Self Employed and have been claiming working tax credits since I turned 25 (last year) I have not been able to work for the last 5 weeks and now I am scared that I can get into trouble for this as I have not informed them? Should I inform them now and can I get into trouble for this? I also get my wages from my self employed paid to my mothers bank account (we live together and it's easier this way) but my WTC get paid into m
  7. I am getting made redundant in the near future. Thankfully I have a personal income protection insurance but to qualify this I need to be in receipt of JSA. Here is where the problem lies. For the past 18 months I have been paying my NICS as any employee does, but prior to that my wages was paid primarily as dividends and I was paid a minimum salary to qualify for my NIC contributions being up to date, even though I did not actually pay anything. I know I won't get IB JSA due to my partner working and savings. I am now being told by various colleagues that I therefore
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