class 4 ni contributuins multiple businesses

termie · 11 December 2011 at 5:45PM

Hi

I'm hoping someone can help. I've just filled in my husband's self assessment online for 2010-11 (not submitted yet), and am confused by the calculation it has giving for the national insurance.

He had 3 businesses during the year, 2 of which made a profit and one of which made a loss (ripped off by someone :mad: ). In the calculation for tax it shows the profits and the loss, but in the national insurance it is just taking into account the profit. Is this right or have i gone wrong somewhere. I've emailed the self assessment section but have a feeling it will take a while, so thought the clever people on here would know where i've gone wrong.
thanks

BoGoF · 11 December 2011 at 5:48PM

On one of the self-employed pages (probably easiest with the one with the biggest profits) there will be a box "adjustments to Class 4 NIC profit, enter the amount of the loss in this box.

BoGoF · 11 December 2011 at 5:50PM

BoGoF wrote: »

On one of the self-employed pages (probably easiest with the one with the biggest profits) there will be a box "adjustments to Class 4 NIC profit, enter the amount of the loss in this box.

Box 101 of the SA103F - you cannot use SA103S for this

termie · 11 December 2011 at 6:12PM

Thanks :beer:
I guess i will need to fill out the long form

class 4 ni contributuins multiple businesses

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