Class 2 NIC exemption, advice needed

littlelampshade

I've always been exempt from paying class 2 NIC, as my earnings from self-employment are low, and I'm also employed. This tax year, however, it looks like I'll be going over the low earnings limit by about £500. Does that mean I'd have to pay class 2 NIC for the whole year, or is it staggered somehow, as with class 4, where you pay NIC only on the profits above the threshold? I'd very much appreciate advice on this. I should add that next tax year my self-employment earnings are most likely to be well below the limit again.
Many thanks in advance!

Pennywise

Unfortunately the nic threshold is indeed a "yes/no" limit - there is no part year or tapering, so if you exceed the limit, class 2 NIC is due for the whole year.

Can you not find something to buy this month rather than next to get your profits below the threshold, i.e. a new printer/computer/Ipad, or stock up on consumables (cartridges, stamps), or delay this months' sales - i.e. do the work in April instead of March?

littlelampshade

Thank you Pennywise, I feared that was the case with class 2. I will need some equipment this year, so I think I'll do like you advised, and buy them now rather than next tax year.