Tax Rates

DebtHater

John_Pierpoint wrote: »

The class 4 NIC is just another tax you get charged when you complete your self assessment tax form (or better do it on-line).

So is it chargeable online?

John_Pierpoint

Yes the self assessment system sorts out tax and class 4 NIC.
If you are new to self assessment, beware of the system catching up with you and demanding payment on account. You need to be calculating your profitability from the start and putting the tax liability in a savings account right from the start.

PlutoinCapricorn

You will find many useful MSE postings that cover every aspect of self employment.

The Citizens' Advice website may be easier to understand than HMRC's: it has the tax rates and bands for the current tax year, also for some previous years. Bear in mind that things change frequently, often on April 6th.

If you really are newly self-employed, it is important to do the groundwork and cover all relevant aspects NI is one, Income Tax is another, registering with HMRC of course, record keeping, deductible expenses...
have you thought about what insurance you might need?